austerity
Austerity cultist Kenneth Rogoff continues to bore us with his broken record – William Mitchell – Modern Monetary Theory – Beragampengetahuan
One would reasonably think that if someone had been exposed in the past for pumping out a discredited academic paper after being at the forefront of the destructive austerity push during the Global Financial Crisis, then some circumspection might be in order. Apparently not. In 2010, Carmen Reinhart and Kenneth Rogoff published a paper in […]
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Fiscal austerity does not on average reduce public debt ratios — beragampengetahuan ~ Mike Norman Economics – Beragampengetahuan
The resurgence of economic orthodoxy is a great example of how declining schools of thought can maintain dominance in the narrative for extended periods of time if the vested interests are powerful enough. In the case of the economics profession, mainstream New Keynesian theory persists because it serves the interests of capital. Recently, the IMF […]