Sunday, June 03, 2012

Krugman Battles British Austerians on BBC Program

Nobel Prize-winning American economist battles British deficit hawks. Read more.

Fact: austerity measures have failed everywhere, in Europe and in the United States. A global depression looms, an economic catastrophe that could kill democracy, and deficits have very little to do with the problem. The solution--massive government stimulus--is well known and available yet rejected out of hand by the powers that be. Why? The answer must be that massive unemployment is a strategy adopted by forces that aim to permanently pauperize the middle classes under cover of "reform" and "competitiveness."

Related: The Austerity Agenda Unmasked 

Christine Lagarde Cries Crocodile Tears for Africa