Realistic Recovery (Tanzi)

Realistic recovery – Why keynesian solutions will not work by Vito Tanzi, indicated by Alvaro Manoel. “Several countries soon discovered the limitations of discretionary fiscal policy, when they had to deal with increasing ‘spreads’ and had to face the unpleasant reality that if their governments wanted to spend more money than they had, they would need to have access to additional credit at reasonable rates; they needed the equivalent of a ‘rich uncle’ willing to finance their need for additional resources. This reality applies for both individuals and governments.” See PDF Attached