Paul Krugman: For more than three years some of us have fought the policy elite’s damaging obsession with budget deficits. That fight seems largely won — in fact, I don’t think I’ve ever seen anything quite like the sudden intellectual collapse of austerity economics as a policy doctrine. But insiders need to start worrying about the right things — namely, the plight of the jobless and the immense continuing waste from a depressed economy. Both here and in Europe, [the elite] seem gripped by a sense that nothing need be done and nothing can be done. Call it the big shrug.
Posted on: Mon, 10 Jun 2013 06:55:34 +0000
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