Thanksgiving Day 2011

November 18, 2011

The dynamic evidence page

False Austerity

Hasn't it been clear for some time that the Greek-style austerity program replicates the mistakes of international lending institutions of the 1960s and 1970s? Those were false austerity programs that ultimately did little except to produce downward spirals of economic activity. Growth of the underlying economy of countries such as Greece and Italy (and the U.S.) simply simply has to be part of any defensible austerity program.

Cf. Rachel Donadio Greece and Italy Seek a Solution from Technocrats NYTimes (Nov. 10, 2011).




&&&

The dynamic evidence page