The right way in fiscal affairs

In response to the economic crisis following the COVID-19 outbreak, countries around the world have sharply increased spending to keep their economies afloat. International organizations have supported this approach and warned against austerity, which was the dominant reaction after the financial crisis of 2008. What is the right way to manage public finances in times of crisis and what is the right way to reduce the chronic damage of the current crisis? What will happen to public debt in the future? Peter Bofinger talks about the right way in public finances in times of crisis. He is one of Germany's most respected economists and has discussed in detail the economic impact of the COVID-19 pandemic. Bofinger is a professor at the University of Würzburg and for years was the designated representative of the labor movement in the German government's advisory council on economic matters. Varða - the labor market research…