Paul Krugman, Laureate of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2008 at a press conference at the Swedish Academy of Science in Stockholm (Photo credit: Wikipedia)

This is an excellent and highly readable blog by Nobel winning, liberal, economist Paul Krugman in the NYT. Check it out!

The 1 Percent’s Solution – NYTimes.com.

The article summarizes in simple English the debate between the Keynesians and the austerians.

Despite austerity having been seriously discredited by both the IMF and professional economists, it is still favored by the top 1%, the rich and powerful.

Sadly, the top 1% are dominating the political classes at the moment. The consequence is unnecessary economic hardship for millions in both the US and Europe.

What happened to democracy?

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