Paul Krugman: Austerity, Italian-Style

Quicklink submitted by Sheila Samples     Permalink
Related Topic(s): ; ; ; , Add Tags

Must Read 1  
View Ratings | Rate It

opednews.com Headlined to H4 2/25/13

Become a Fan
  (39 fans)


At www.nytimes.com

When Europe began its infatuation with austerity, top officials dismissed concerns that slashing spending and raising taxes in depressed economies might deepen their depressions. On the contrary, they insisted, such policies would actually boost economies by inspiring confidence.But the confidence fairy was a no-show. Nations imposing harsh austerity suffered deep economic downturns; the harsher the austerity, the deeper the downturn. Indeed, this relationship has been so strong that the International Monetary Fund, in a striking mea culpa, admitted that it had underestimated the damage austerity would inflict.

Read the rest of the story HERE:

At www.nytimes.com

- Advertisement -
- Advertisement -

 

Comments

The time limit for entering new comments on this Quicklink has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
No comments