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The Gridlock Where Debts Meet Politics
Sunday, November 13th, 2011
November 5, 2011
On the most basic level, affluent countries are facing sharply increasing claims on their resources even as those resources are growing less quickly than they once were… the debate is about much more than just partisan advantage or the next election. It is a philosophical debate… the “no-growth trap.” In the short term, this trap takes the form of resistance to emergency measures… Longer term, the trap is created by resistance to the higher taxes and reduced benefits necessary to return countries to financial stability.
Tags: economy, globalization, ideology, standard of living, tax
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