“It is crucial to understand that economic policy is not scientifically
ordained. You can impose austerity and hope the economy grows, even
though such a policy deprives it of demand; or you can focus on investing
in areas like health, training, education, research and infrastructure with
the belief that these areas are critical for long-run growth in GDP. In the
end, the choice of policy depends heavily on one’s perspective on the role
of government in the economy – is it key to creating value, or at best a
cheerleader on the sidelines?”
―
Mariana Mazzucato,
The Value of Everything: Making and Taking in the Global Economy