Proof that ‘austerity works’ is based upon bad data

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    • #57424
      GarySFBCN
      Participant

      Another nail in the coffin of austerity. Note, cutting wasteful government spending is not the same as austerity. I fully support cutting waste and looking for better, more efficient ways to achieve objectives. But austerity as an economic solution to unemployment is the most idiotic solution ever suggested. No campfire is going to thrive or grow if the fuel is cut off. It is the same with economies.

      http://nymag.com/daily/intelligencer/2013/04/grad-student-who-shook-global-austerity-movement.html

    • #83965
      Anonymous
      Participant

      I originally thought that was funny when I first saw it, but in retrospect I think that actually it’s shameful, particularly as Harvard boasts that it is Number 1 in the world for economics.

      D

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