The Economic Consequences of Mr Osborne

Victoria Chick & Ann Pettifor, with G Tily
July 2010, updated February 2011

Fiscal consolidation does not ‘slash’ the debt, but contributes to it. As the extent of economic recovery becomes increasingly uncertain Prof. Chick and Pettifor examine a century’s worth of macroeconomic evidence to argue that contrary to conventional wisdom we need to ‘spend away the debt’.