Almost Quote by Bill Gross
“The U.K. and almost all of Europe have erred in terms of believing that austerity, fiscal austerity in the short term, is the way to produce real growth. It is not. You've got to spend money.”
About This Quote
Source Speech: Economic Outlook, 2012
Austerity is ineffective short‑term; spending is needed to stimulate real growth.
In simple terms: Austerity hurts growth; spend to grow.
Prioritize productive spending.
Themes
Mood
Type
When to use this quote
- recession recovery
- infrastructure investment
- public services
Key Concepts
Questions to Reflect On
- What investments yield the most growth?
- How to balance spending and debt?
Spending must be efficient, not wasteful.