In a new book, End This Depression Now!, Nobel Prize–winning economist Paul Krugman says the current economic problems can be fixed both more easily and more quickly than anyone imagines. But politicians’ desire to slash spending is deeply destructive, and he details why austerity is so appealing even to Very Serious People—and why it’s such a bad idea. Full Story »
Posted by Fabrice Florin
Paul Krugman reiterates economic theory and examines the rationale of proponents of austerity as a panacea for a depressed economy along with some discerning observations about the motivation of those that advocate such a policy.
Lenders want governments to make honoring their debts the highest priority, and they oppose any action on the monetary side that either deprives bankers of returns by keeping ... More »
But a funny thing happened in 2010: much of the world’s policy elite—the bankers and financial officials who define conventional wisdom—decided to throw out the ... More »
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