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), Memeorandum, New York Times (Opinion), Real Clear Politics

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Barry Grossheim
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by Barry Grossheim - Jan. 30, 2012

Krugman presents convincing proof that austerity is not the answer to stimulating the economy in a recession.

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