Mr Spock: “It is logical. The needs of the many outweigh…”
Admiral Kirk: “…the needs of the few.”
Star Trek II: The Wrath of Kahn (1982)
We are now in a position to use the circulatory growth model to help explain both the causes of the global financial crisis and why the policy mix applied after the crisis has failed to restore normal levels of economic growth. We can then use the model to see which policy changes will be necessary in order to help the economy achieve stronger growth.
In this chapter I have chosen to describe developments in the American economy. However, I have chosen to make comments that are relevant to both the American and British economies. Both the American and British economies have followed ...