Entrepreneurs Will Fix the Recession
The stimulus versus austerity debate is culturally relative, says an economist for The Guardian. What matters most is that each country reassure its entrepreneurs that demand will rise in the future. The reason America wants to spend its way out of the recession, says John Llewellyn, is because it bears a cultural scar from the Great Depression. This is not the case with Germany, however, who suffered greatly from hyperinflation and therefore prefers austerity measures to combat the recession. While today's economy is global, this does not necessarily imply a global culture. What is most important is that governments establish a safe future for their entrepreneurs.