I came across this quote from Tony Blair’s new memoir “A Journey”, out this week, and couldn’t help but find it incredibly insightful and to the point.
Regarding stimulus, Keynesianism and re-regulation, Mr. Blair writes:
"Ultimately the recovery will be led not by governments but by industry, business, and the creativity, ingenuity and enterprise of people. If the measures you take in responding to the crisis diminish their incentives, curb their entrepreneurship, make them feel unsure about the climate in which they are working, the recovery becomes uncertain."
Worth some thought…
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