Trouble ahead for Sweden? It’s aiming for a balanced budget.
Looks like Sweden is aiming for a balanced budget (hat tip to Marc Robinson).
As I’ve pointed out more than once on this blog, any country which aims for inflation of around 2% will need to run a significant deficit just to prevent its monetary base and national debt declining relative to GDP at 2% a year. If it doesn’t have that deficit, private sector saving desires may not be met, which may mean paradox of thrift unemployment.
Author: Ralph Musgrave - Ralphanomics
I wrote a book on unemployment recently with James Galbraith, and others. Galbraith is one of Obama's economic advisers.
I love the different cultures that exist in this world. I took an interest in them long before the daft word 'multiculturalism' was widely used. I want to see these cultures preserved. I want to see Tibet staying Tibetan, and Britain staying British.