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Joseph Stiglitz: There is no instance of a large economy growing through austerity

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In what has been a heated battle between two distinct economic ideologies in the face of recession across the globe: Economic stimulus vs. austerity, Nobel prize-winning economist Joseph Stiglitz has joined the growing choir of voices against austerity. Europe, notably Greece and the UK have been cheerleaders for austerity with little to show for it. Many agree that the U.S. should be doing more to fuel growth, even in the face of a stimulus skeptical political base.