Posts Tagged ‘Kenneth Rogoff’

The theory on which austerity is built is now shown to be false

by Michael Meacher.

Two years ago the Harvard economists Carmen Reinhart and Kenneth Rogoff published their best-selling book This Time is Different which purported to show that one natioanl debt exceeds 90% of GDP, economic debt declines rapidly. It was seized on by Right-wing governments, media and academic pundits generally to justify a policy of extreme cutbacks in […]

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