austerity (Photo credit: 401(K) 2013)

This article published by Project Syndicate is well worth a read this weekend. David Cameron gets a mention. Check it out!

Austerity and Demoralization by Robert J. Shiller – Project Syndicate.

Personally, I keep an eye on what’s being written about austerity because I’m against excessive short-term austerity. Sadly, the UK Prime Minister, David Cameron, and Chancellor, George Osborne are arch-austerians; they seem so thick-skinned and ignore that austerity has been totally discredited; even Berlin has moved on and trying not to touch the poison chalice.

Will Cameron and Osborne go out of office being remembered as the last austerians?

Any thoughts?

Related articles

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• German Government to Test Stimulus Instead of Austerity – SPIEGEL ONLINE
• Austere Illusions: Fiscal contraction is contractionary, period.
• Shiller: Debt and Delusion
• Defining Austerity
• Europe’s Lost Keynesians by Kenneth Rogoff – Project Syndicate
• Living in Terror of Dead Economists