Austerityand Debt Realism

by Kenneth Rogoff Kenneth Rogoff is Professor of Economics and Public Policy at Harvard University, andwas formerly chief economist at the IMF. 02.06.2012


.......what should governments be doing? One extreme is the simplistic Keynesian remedy that assumes that government deficits don’t matter when the economy is in deep recession; indeed, the bigger the better. At the opposite extreme are the debt-ceiling absolutists who want governments to start balancing their budgets tomorrow (if not yesterday). Both are dangerously facile.
Get 24 hour access to the whole article for $0.2.

Recent articles