Back to Conventional Macroeconomic Policies?

The 2007-2208 financial crisis led to the return of active economic policies in order to avoid a general collapse of the world economy. But facing the fears of financial markets due to an excessive public debt and to a revival of inflation, the governments have soon entered a fiscal consolidation process. Today with an ailing economic activity, they seem to be powerless. The temptation is great of restoring conventional macroeconomic policies whose foundations lie on the main stream of macroeconomic theory whose weakness has appeared in broad daylight.