Visual source: Newseum
Paul Krugman in The New York Times:
For the past two years most policy makers in Europe and many politicians and pundits in America have been in thrall to a destructive economic doctrine. According to this doctrine, governments should respond to a severely depressed economy not the way the textbooks say they should — by spending more to offset falling private demand — but with fiscal austerity, slashing spending in an effort to balance their budgets.
Visual source: Newseum Paul Krugman: “The boom, not the slump, is the right time for austerity at the Treasury.” So declared John Maynard Keynes in 1937, even as F.D.R. was about to prove him right by trying to balance the budget to... Read Post
Visual source: Newseum Austerity champions and deficit fetishists in the Republican Party have pushed economic policies that hurt the vast majority of Americans. John J. Drew at the Taunton Daily Gazette gives an overview of how the... Read Post