Richard P. H. Koo

Richard P. H. Koo is an economist known for his work on fiscal and monetary policy, especially in the context of economic growth and stability. He emphasizes the importance of government spending during economic downturns to stimulate demand when private sector activity slows. Koo's theory suggests that in certain economic conditions—particularly during debt-driven or balance sheet recessions—government deficits are essential for recovery, contrasting with traditional views that prioritize austerity. His ideas are influential in understanding how governments can effectively support the economy without undermining financial stability, especially during crises.