IIt’s only 15 years since a financial crisis nearly brought the global economy to its knees, but some of the key lessons have been forgotten.
Although world leaders had the wherewithal to invest $1 trillion (£740 billion today) in the global economy to stave off a depression, politicians rushed to reclaim some of the money.
Britain pioneered this move, where the coalition government and then-Chancellor George Osborne pushed through an austerity program aimed at balancing the books through spending cuts.
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