The IMF’s austerity policy of the last years was misguided. That austerity policy led to intensified growth declines and increasing unemployment and did not reach its goal of permanently calming the financial markets. Public investments could raise economic growth both in the short- and long-term. State expenditures have a considerable influence on employment and growth.
to read the articles by Philipp Heimberger and Sebastian Gechert, click on
http://portland.indymedia.org/en/2014/12/428651.shtml
