The New Fiscal Reality

As a public policy think tank dedicated to studying issues that resonate internationally, France Stratégie publishes regularly in English on the labour market, the digital economy, sustainable development, economics and social affairs.'When the facts change, I change my mind. What do you do, sir?' This, reportedly, is how Keynes replied to the criticism that he had changed his position on the policy response to the Great Depression. Pragmatism of this sort is not that common: policy views are often characterised by considerable inertia. Too frequently, today’s perspectives remain shaped by yesterday’s facts.

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