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A theory is appropriate as long as it fits into the fact; when a theory doesn't fit in the fact, it's wise to walk with the fact.

Tuesday, December 27, 2011

Budget deficit and government borrowing

Professor M A Taslim writes on the latest economic development with a focus on increasing budget deficit, and its links with excessive government borrowing as part of budget financing. With a discussion on economics philosophical background and what they mean in reality, he termed the current approach of the government risky  in the long-run and suggested the government to restrain its ambition for the sake of long-run macroeconomic stability of the economy. Another excellent piece from him to know economics philosophy, theories and their interlinks in reality.

Here is the link for the article.

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