| 单词 | pump priming |
| 释义 | pump priming The theory that it is possible for the government to bring about permanent recovery from a slump by a temporary injection of purchasing power into the economy. The argument is that if incomes are low because lack of confidence in the future prevents investment, a temporary rise in government spending, financed by borrowing rather than taxes, can raise incomes through its multiplier effects, which will allow investment to recover. Once a cumulative recovery process gets going, it will be possible to remove the extra government spending. The government may even eventually receive sufficient extra tax revenue to restore government debt to its original level. The name comes from a mechanical analogy with pumps that need an initial charge of water before they will work. |
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