Stremf in Numbers
Monday, June 14, 2010
Judeo Christian Economic Theory
Paul Krugman.
It's unfortunate that Republicans have staked out the actions/consequences moral high ground in the economic debate, but it should come as no surprise that many economists are calling for "austerity". The idea that the road to prosperity passes through Sacrifice, Denial and Scarcity on its way to Fulfillment is alluring.
Unfortunately, it's also wrong.
The arguments for stimulative, demand-based economic policies at a macro level are extensive and compelling, so no need to go into them here.
At micro-level, it's still true. The hardest-working path requiring those most self-sacrifice is not necessarily the best.
Also, austerity?
¶ 3:21 AM 0 Comments
It's unfortunate that Republicans have staked out the actions/consequences moral high ground in the economic debate, but it should come as no surprise that many economists are calling for "austerity". The idea that the road to prosperity passes through Sacrifice, Denial and Scarcity on its way to Fulfillment is alluring.
Unfortunately, it's also wrong.
The arguments for stimulative, demand-based economic policies at a macro level are extensive and compelling, so no need to go into them here.
At micro-level, it's still true. The hardest-working path requiring those most self-sacrifice is not necessarily the best.
Also, austerity?
¶ 3:21 AM 0 Comments
