Friday, May 24, 2013
Europe’s Lost Keynesians by Kenneth Rogoff - Project Syndicate
CAMBRIDGE – There is no magic Keynesian bullet for the eurozone’s woes. But the spectacularly muddle-headed argument nowadays that too much austerity is killing Europe is not surprising. Commentators are consumed by politics, flailing away at any available target, while the “anti-austerity” masses apparently believe that there are easy cyclical solutions to tough structural problems.
dearieme, this reader need to have that comment explained. I think I just read Larry Summers stating that the error was of limited significance and that it was hardly unique in the annals of financial research. So, his bad, damaging but probably not fatal.
Posted by: Kieth | May 27, 2013 2:09:20 PM
Shouldn't Rogoff be sobbing quietly in private, out of the public eye, until the flood of derision subsides?
Posted by: dearieme | May 24, 2013 3:09:04 PM