reinhart rogoff austerity
In a post at Quartz, University of Michigan economics professor Miles Kimball and University of Michigan undergraduate student Yichuan Wang write that they have crunched Reinhart and Rogoff's data and found "not even a shred of evidence" that high debt levels lead to slower economic growth.
The story of the Reinhart-Rogoff error tells us a great deal about how the elites use economists and the prestige of the economics profession in order to impose their will on the public.
Reinhart and Rogoff and their paper are part of the problem and if they want to do the world a favor they should try to become part of the solution. Unfortunately, that's not the tack they take in this morning's New York Times.