Adam Tooze: It’s Time to End the Trillion-Dollar Taboo
To solve the world’s biggest problems, governments need to take spending to the next level.
Over the past decade, the world has gotten accustomed to hearing about public spending at the level of hundreds of billions of dollars. But trillions of dollars, as a unit of measure in the economy, still represents a threshold that governments seem reluctant to cross—even as underlying political events call for just that. It’s a political constraint that may ultimately have a psychological foundation—which is not to suggest that it’s one that’s easily overcome.
Cameron Abadi is a deputy editor at Foreign Policy. Twitter: @CameronAbadi
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