austerity (Photo credit: 401(K) 2013)
This latest blog from Oxford economist, Simon Wren-Lewis, is a RECOMMENDED READ, in my view. Check it out!
mainly macro: Austerity, growth and being economical with the truth.
The article takes a hard look at the increasingly popular ‘growth proves austerity right’ idea. As Wren-Lewis correctly argues economic management, in both the UK and Germany, with excessively severe austerity has done permanent damage; it should not be glossed over by newspapers focused on their circulation or advertising.
Let me take up Wren-Lewis’s argument, as well with an open question:
Why is the the Financial Times trying to white-wash the reality about austerity policies?
Any thoughts?
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Thanks for sharing this! The more we spread the word on the false premises of austerity the faster we’ll get out of this mess!!!
Agreed!
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