The Intellectual Bankruptcy Of The Austerians - Simon Wren-Lewis It is both amusing and tragic to watch the advocates of fiscal austerity try and deal with the fact that the thin intellectual foundations for their approach have crumbled away, while at the same time the empirical evidence of their folly accumulates. I say thin not for dramatic effect: the economic textbooks tell us that this policy was foolish in the first place, so the austerians were always arguing something like ‘forget the accumulated wisdom of the past century, on the basis of two or three papers we know better’ social-europe.eu/2013/06/the-intellectual-bankruptcy-of-the-austerians/
Posted on: Wed, 26 Jun 2013 10:55:19 +0000
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