'This year the tide changed in the economy. Growth seems finally to be returning. The tide also changed in economic ideas. The brief resurgence of traditional Keynesian ideas is washing away from the world of economic policy.
No government is remotely likely to spend trillions of dollars or euros in the name of "stimulus," financed by blowout borrowing.
http://www.wsj.com/articles/john-h-cochrane-an-autopsy-for-the-keynesians-1419205362
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