Paul Krugman, Laureate of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2008 at a press conference at the Royal Swedish Academy of Sciences in Stockholm (Photo credit: Wikipedia)
Cropped picture of Joseph Stiglitz, U.S. economist. (Photo credit: Wikipedia)
This is a brilliant, MUST READ article by William Black, published by Alternet . Don’t miss it; check it out now!
Regular readers of this blog will know that whilst I respect prudent national housekeeping as proposed by German Chancellor, Angela Merkel, I disagree strongly with excessive austerity, as proposed by the austerians in power in Washington, London and Berlin; Berlin has indeed cast a dark shadow over much of Southern Europe.
I broadly support the macro-economic views of Nobel Prize winning economists, Joe Stiglitz and Paul Krugman. Since 2008, Stiglitz and Krugman have strongly advocated traditional Keynesian demand management tools to give a fiscal boost to recession torn economies.
Because of excessive austerity, we have witnessed huge economic and social hardship in many countries. The only winners have been the top 1% of society.
This easy to read article, traces the public and often hostile debates between five of the World’s most prominent economists about the questionable austerity policies of the IMF.
This leads me to an open question:
Who really controls the IMF?
Let me know your thoughts?
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