By Richard Florida, for The Globe and Mail
Must reduce demand for products of the "old order"
Financial recovery. Image: stock.xchng.com
President-elect Barack Obama has announced his intention to restart the American economy with hundreds of billions in new spending on transportation, public works and energy. Ever since John Maynard Keynes, economists have seen such fiscal stimulus as the key tool for leading economies out of recession. In 1971, Richard Nixon famously remarked, “We are all Keynesians now.”
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