Austerity

Evidence Suggests Austerity is Bunk

Evidence Suggests Austerity is Bunk

Quartz recently ran a piece from University Michigan economics prof Miles Kimball and research assistant Yichuan Wang that re-analyzed the data in the original research by Reinhart and Rogoff that was used to justify the so-called austerity policies put in place in most of the developed economies over the last decade.   What did they do […]

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US Infrastructure:  Austerity is a Bad Investment Strategy

US Infrastructure: Austerity is a Bad Investment Strategy

That’s the reasoning by Jordan Weissman in the current issue of the Atlantic.  He cites the usual Keynesian justification for such projects, both in terms of boosting employment in the short run and economic productivity in the long run.  But he also makes the case that, since we’re going to have to take on these […]

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Fiscal Austerity & the Eurozone

Fiscal Austerity & the Eurozone

In case you’re wondering how the European experiment with fiscal austerity in a slack economy is working out, a recent Wall Street Journal article may provide some indications: The euro-zone economy suffered a major loss of momentum at the end of the second quarter and retail spending fell sharply, even as the European Central Bank […]

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