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Obviously, the latter will not be as significant an event as the former, but it nonetheless will have important consequences beyond the United Kingdom.In both the U.S. and the U.K. – and not only there – we can expect to hear more about active fiscal policies, especially with respect to infrastructure.Fiscal activism need not stop at infrastructure. In the Review on AMR, we showed that global GDP could suffer a $100 trillion loss over the next 34 years if we do not make certain public-health interventions between now and 2050 . Beyond the BRICS, the other low-income countries that the NDB is trying to help will suffer even more without a proactive approach.Similarly, many people in the BRICS and low-income countries do not have access to quality primary education, so the case for a major spending boost in this area should be clear. That being the case, the next U.S. administration (regardless of who wins), together with a new U.K. leadership struggling to demonstrate its post-Brexit "openness," should extend fiscal activism beyond domestic infrastructure to global development more generally.
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