Korean-born economist Ha-Joon Chang teaches economics at the University of Cambridge and is the author of the forthcoming book, “23 Things They Don’t Tell You About Capitalism.”

“[Obama] has to buy time to restructure the economy without creating a recession by sustaining this deficit spending, because otherwise our other option is going back to the 1930s,” Chang says. “Don’t forget that in the 1930s a lot of countries started cutting this deficit as soon as things looked slightly better, and many of the
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