What the British authorities should try now
from FT Martin Wolf
The idea that a quick recession would purge the world of past excesses is ludicrous. Choosing to risk a catastrophic downward spiral would be like deciding to let a city burn in order to punish someone who smoked in bed. Everything possible must be done to prevent the inescapable recession from turning into something worse, says Martin Wolf.
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This episode was published on October 30, 2008.
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