Paul Krugman: We Live In A 'World Of Zombie Economic Policies'

Paul Krugman: We Live In A 'World Of Zombie Economic Policies'
|

This was the month the confidence fairy died.

For the past two years most policy makers in Europe and many politicians and pundits in America have been in thrall to a destructive economic doctrine. According to this doctrine, governments should respond to a severely depressed economy not the way the textbooks say they should — by spending more to offset falling private demand — but with fiscal austerity, slashing spending in an effort to balance their budgets.

Go To Homepage

Before You Go

Popular in the Community