Austerity or stimulus? There is another way

The election results in Greece have again elevated the debate across Europe between proponents of austerity and stimulus but is the debate missing a possible third way, asks Dr Yossef Ben-Meir

Which approach – either constricting public spending, including projects that promote sustainable growth, or increasing this funding, even through borrowing – will improve troubled economies and create jobs and new wealth for communities and families?

This is in reality a global question, currently echoed in two further examples; namely U.S. President Obama’s new proposals to secure and expand the middle class, and the options facing Arab Spring governments as they strive to outpace public discontent and potential political upheaval.