Sunday, July 1, 2012
Galbraith on the consequences of fiscal austerity
What would a significant fiscal adjustment, as the jumping of the so-called fiscal cliff would require next year, would be you ask? Jamie Galbraith has provided a timely answer in the Nation (here; hat tip Nathan Cedrus Tankus). In short: "a big deficit-reduction program would destroy the economy, or what remains of it, two years into the Great Crisis."
Subscribe to:
Post Comments (Atom)
-
By Sergio Cesaratto (Guest Blogger) “The fact that individual countries no longer have their own currencies and central banks will put n...
-
There are Gold Bugs and there are Bitcoin Bugs. They all oppose fiat money (hate the Fed and other monetary authorities) and follow some s... -
I was interviewed by Max Jerneck for his podcast, and he alerted me to this figure (see below), which apparently come from the Universidad ...
Thanks for linking to that piece. Galbraith puts it clearly and forcefully, leaving no room for misunderstanding. It gives me some hope that a magazine like The Nation is printing it.
ReplyDelete