A consensus is forming that policymakers should tighten fiscal policy, sharply, in countries with large fiscal deficits. Yet what makes these policymakers sure that business and consumers will spend in response to austerity? What if they find that it tips economies into recession, or even deflation?
各方正在形成一個共識，即在鉅額財政赤字的國家，政策制定者應大幅收緊財政政策。然而，這些政策制定者憑什麼確信，企業和消費者會響應緊縮措施，增加自己的支出？如果他們發現緊縮措施讓經濟陷入衰退，甚至是通縮，又該怎麼辦？
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