Following the 2008 financial crisis, many pundits claimed that a major cause of the persistent worldwide economic recession was the lack of government spending. This argument, though, falls flat. Government spending and debt as a percent of GDP have skyrocketed in the United States, Europe and Japan, yet very few countries have experienced any surge in economic growth.
Following the 2008 financial crisis, many pundits claimed that a major cause of the persistent worldwide economic recession was the lack of government spending. This argument, though, falls flat. Government spending and debt as a percent of GDP have skyrocketed in the United States, Europe and Japan, yet very few countries have experienced any surge in economic growth.