What is government spending? You might suppose it is what the state pays to buy what it needs. Not ...
What is government spending? You might suppose it is what the state pays to buy what it needs. Not anymore. As they attempt to skirt the rules on government borrowing and spending, Europe's politicians have stepped into an Alice-in-Wonderland world. Words and definitions are fast being twisted out of shape and there will be a long-term price paid for that. Let's take a tour of European public finances starting in the UK. There are many things the rest of Europe could learn from British economic management: deregulated labour markets, openness to investment, and until recently low taxes. Y...
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