"More than four years after the financial crisis began, the world's major advanced economies remain deeply depressed, in a scene all too reminiscent of the 1930s. And the reason is simple: we are relying on the same ideas that governed policy in the 1930s. These ideas, long since disproved, involve profound errors both about the causes of the crisis, its nature, and the appropriate response. These errors have taken deep root in public consciousness and provide the public support for the excessive austerity of current fiscal policies in many countries. So the time is ripe for a in which mainstream economists offer the public a more evidence-based analysis of our problems."
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Academics from the United StatesEssayists from the United StatesColumnists from the United StatesBloggers from the United StatesEconomists from the United States
Original Language: English
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Paul Krugman and Richard Layard, "A Manifesto for Economic Sense" (June 27, 2012)
https://en.wikiquote.org/wiki/Paul_Krugman
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Paul Krugman
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