Debt is neither free nor irrelevant, as interventionists want us to believe, even if interest rates are low. More debt means less growth and a slower exit from the crisis, with lower productivity growth and a tepid employment improvement
Debt is neither free nor irrelevant, as interventionists want us to believe, even if interest rates are low. More debt means less growth and a slower exit from the crisis, with lower productivity growth and a tepid employment improvement