Tuesday, September 21, 2010

European GDP?

Have the Europeans kept to this “3% or less” agreement? As a percentage of GDP, why might Denmark and Ireland have been able to so aggressively reduce their government spending? The US has amassed enormous deficits during the early 2000s. Why? What would Keynes think? Are YOU in agreement with the “Classical” or “Keynesian” school of economic thought? Why?