Paul Krugman — How the Case for Austerity Has Crumbled

In normal times, an arithmetic mistake in an economics paper would be a complete nonevent as far as the wider world was concerned. But in April 2013, the discovery of such a mistake—actually, a coding error in a spreadsheet, coupled with several other flaws in the analysis—not only became the talk of the economics profession, but made headlines. Looking back, we might even conclude that it changed the course of policy.

The New York Review of Books
How the Case for Austerity Has Crumbled
Paul Krugman | Professor of Economics, Princeton University