Full text: Eurosclerosis

public debt and interest on it[which will
therefore ??(on condition) absorb an 
increasing share of the tax payer's income.]
This raises two problems: It will
? continuously increase the ?
required to finance the interest (provided there is an
offset in necessary productivity+no inflation)
and, second, it will necessitate ?
increasing deficits in order to keep up effective
demand (assuming a proportonately constant ? gap).
Amit Bhaduri in private conversation
has raised the question: Why ?it should not

be possible

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