This video from 2010 is particularly important. Richard Koo explains how the private sector paying off debt leads to a rapid contraction in national income.
INET interview with Richard Koo, Chief Economist at Nomura Research
This video from 2010 is particularly important. Richard Koo explains how the private sector paying off debt leads to a rapid contraction in national income.
INET interview with Richard Koo, Chief Economist at Nomura Research