Right now there’s a serious effort to rethink the move to austerity. Between the developments in Japan and the IMF’s efforts in Europe and England, the common wisdom will soon be that austerity as a solution was oversold, with all the toxic side effects hidden. The question next will be how to turn that into political power.The Washington Post | Wonkblog
Reinhart/Rogoff-gate isn’t the first time austerians have used bad data
Mike Konczal | Roosevelt Institute Fellow
(h/t Mark Thoma at Economist's View)
See also Konczal's IMF, Economist and Roosevelt Institute on Alesina and Ardagna at Rortybomb, October 5, 2010. (h/t Paul Krugman)
Anyone see a pattern here?
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