Tag Archives: fiscal prudence

Go green for fiscal prudence!

Ramon Lopez, The Great Financial Crisis, Commodity Prices and Environmental Limits (WP 09-02, Revised May 31, 2009)

Professor Ramon Lopez of the Department of Agricultural and Resource Economics, University of Maryland, has written an interesting working paper that draws the links between changes in the global economy, commodity prices, and the current global financial crisis. It is an argument that calls into question the viability and wisdom of efforts to resume ‘business as usual’, suggests future global economic growth will be slow at best, and (implicitly) suggests that policies of large-scale public borrowing based on the assumption that future growth will help pay it off may be highly risky.
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