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Frugalistas & Obamanomics - the Paradox of Thrift

Friday, 12th of December 2008

Frugalista, Obamanomics? These are two funky new terms that we have come across this week whilst surfing the web for economics news. We discuss here something called ‘The Paradox of Thrift’ - a term coined by the economist John Maynard Keynes who stated that although being frugal and thrifty seems to be the best policy for individuals, as far as the overall economy goes it can be damaging.



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