austerity (Photo credit: 401(K) 2013)

This is an exeellent, MUST READ blog from top Oxford economist, Simon Wren-Lewis, commenting on Ken Rogoff’s piece in yesterday’s FT (which I reblogged with my own two cents worth). Check it out!

via Ken Rogoff on UK austerity – Simon Wren-Lewis – Mainly Macro.

Once again, this confirms that that the UK austerity policies deployed by George Osborne were excessive. This really matters because excessive austerity caused unnecessary hardship to most middle and lower class families. Those who benefited from austerity were the wealthy, like George Osborne and David Cameron.

Any thoughts?

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