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 Contrary to conservative hopes, media pundits and voters alike won't soon forget Mitt Romney's fundraiser remarks in which he throws 47% of Americans by the wayside. Paul Krugman in The New York Times analyzes... Read Post