{"id":3409,"date":"2012-01-28T22:54:16","date_gmt":"2012-01-28T20:54:16","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=3409"},"modified":"2012-01-28T22:54:16","modified_gmt":"2012-01-28T20:54:16","slug":"a-crisis-in-two-narratives","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/a-crisis-in-two-narratives\/","title":{"rendered":"A Crisis in Two Narratives"},"content":{"rendered":"<p><a dir=\"ltr\" lang=\"en\" xml:lang=\"en\" rel=\"author\" href=\"http:\/\/www.project-syndicate.org\/contributor\/534\" target=\"_blank\">Rajan, Raghuram<\/a>.<\/p>\n<p>With the world\u2019s industrial democracies in crisis, two competing narratives of its sources \u2013 and appropriate remedies \u2013 are emerging. The first, better-known diagnosis is that demand has collapsed because of high debt accumulated prior to the crisis. Households (and countries) that were most prone to spend cannot borrow any more. To revive growth, others must be encouraged to spend \u2013 governments that can still borrow should run larger deficits, and rock-bottom interest rates should discourage thrifty households from saving.<\/p>\n<p><strong>\u03a0\u03b7\u03b3\u03ae: <\/strong>Project Syndicate<\/p>\n<p><a href=\"http:\/\/www.project-syndicate.org\/commentary\/rajan25\/English\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rajan, Raghuram. With the world\u2019s industrial democracies in crisis, two competing narratives of its sources \u2013 and appropriate remedies \u2013 are emerging. The first, better-known diagnosis is that demand has collapsed because of high debt accumulated prior to the crisis. Households (and countries) that were most prone to spend cannot borrow any more. To revive [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,39],"tags":[28,25],"class_list":["post-3409","post","type-post","status-publish","format-standard","hentry","category-18","category-39","tag-28","tag-25"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/3409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=3409"}],"version-history":[{"count":1,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/3409\/revisions"}],"predecessor-version":[{"id":3410,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/3409\/revisions\/3410"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=3409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=3409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=3409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}