Power of Story Send a Tweet        
- Advertisement -

Share on Google Plus Share on Twitter 1 Share on Facebook 7 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit 1 Share on StumbleUpon Tell A Friend 7 (16 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   7 comments
OpEdNews Op Eds

The Scandal that's Discrediting All Conservative Economists

By       Message Eric Zuesse       (Page 1 of 5 pages)     Permalink

Related Topic(s): ; ; ; ; ; ; ; ; ; ; (more...) ; ; ; , Add Tags  (less...)  Add to My Group(s)

Must Read 8   News 4   Supported 4  
View Ratings | Rate It

opednews.com Headlined to H2 4/19/13

Author 85251
- Advertisement -

Leading Conservative Economists Exposed as Frauds; Conservatives Defend Them.


Can Conservative Economics Even Survive?


- Advertisement -

The fracas that the  fraudulent "research" paper  by leading Harvard conservative economists Kenneth Rogoff and Carmen Reinhart has generated, is going straight to the heart of the economics profession, and also to the heart of public policy for dealing with the economies in the U.S. and many other countries. Here is the fundamental issue that's involved in this important history-shaping matter:


The basic war among professional economists has been between the "austerity" camp (of which this paper was the biggest gun), and the "growth" camp.

- Advertisement -


Austerians say that the way for the world to address the slowdown in the developed economies is for governments to cut government spending. (The fraudulent "research" paper provided selective, jiggered, and even bogus, data supporting this view.)


Growthers say that the way to address it is instead for those governments to increase government spending.


Austerians say that government spending is waste, which drains productive spending by corporations. Austerians say that government spending just increases the national debt.

- Advertisement -


Growthers say that government spending is sometimes productive, and that corporate spending is itself sometimes wasteful. Growthers say that even sometimes when government spending turns out to be wasteful, and always at times when it turns out to be productive, government spending puts money into the hands of workers and consumers, so as to increase their ability to make purchases, which gets factories and businesses humming again, which increases the nation's economic output and restores the taxes flowing into the government's coffers, so that even the government's debt will decline, over the long term. It's a win-win situation, growthers say: the public benefits, the government benefits, and even corporations benefit over the long term, because their sales-volumes become restored.


Next Page  1  |  2  |  3  |  4  |  5


- Advertisement -

Must Read 8   News 4   Supported 4  
View Ratings | Rate It


Investigative historian Eric Zuesse is the author, most recently, of  They're Not Even Close: The Democratic vs. Republican Economic Records, 1910-2010,  and of  CHRIST'S VENTRILOQUISTS: The Event that (more...)

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon Share Author on Social Media   Go To Commenting

The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact EditorContact Editor
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

First Examination of Malaysian MH-17 Cockpit Photo Shows Ukraine Government Shot that Plane Down

Indications that the U.S. Is Planning a Nuclear Attack Against Russia

Harry Reid Effectively Kills Obama's TPP and TTIP International Trade Deals

MH-17 'Investigation': Secret August 8th Agreement Seeps Out

The Propaganda War About Ukraine: How Important It Really Is

UPDATED -- Conclusive: 2 Ukrainian Government Fighter-Jets Shot Down that Malaysian Airliner.