The Austerity Debacle
Britain is doing worse this time than it did during the Great Depression. Four years into the Depression, British G.D.P. had regained its previous peak; four years after the Great Recession began, Britain is nowhere close to regaining its lost ground. Full Story »
Posted by Barry Grossheim - via Paul Krugman, New York Times (Most Emailed), Real Clear Politics, New York Times (Opinion), Memeorandum
Krugman presents convincing proof that austerity is not the answer to stimulating the economy in a recession.