One of the frustrations of economics is that it is hard to carry out scientific experiments and prove things beyond reasonable doubt. But not in this case. Thanks to Osborne’s stubborn refusal to change course—“Turning back would be a disaster,”? he told Parliament—what has been happening in Britain amounts to a “natural experiment”? to test the efficacy of austerity economics. For the sixty-odd million inhabitants of the U.K., living through it hasn’t been a pleasant experience—no university institutional-review board would have allowed this kind of brutal human experimentation. But from a historical and scientific perspective, it is an invaluable case study.
http://www.newyorker.com/online/blogs/c ... -work.html
It's Official: Austerity Economics Doesn't Work
Moderator: Global Moderator
-
MachineGhost
- Executive Member
- Posts: 10054
- Joined: Sat Nov 12, 2011 9:31 am
It's Official: Austerity Economics Doesn't Work
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
-
murphy_p_t
- Executive Member
- Posts: 1675
- Joined: Fri Jul 02, 2010 3:44 pm
Re: It's Official: Austerity Economics Doesn't Work
do you think this article is definitive on the subject?
here's another perspective
http://www.caseyresearch.com/articles/o ... 467ED1012B
here's another perspective
http://www.caseyresearch.com/articles/o ... 467ED1012B