Shun the Apostles of Austerity
Paul Krugman, New York Times
As I look at what passes for responsible economic policy these days, there’s an analogy that keeps passing through my mind. I know it’s over the top, but here it is anyway: the policy elite — central bankers, finance ministers, politicians who pose as defenders of fiscal virtue — are acting like the priests of some ancient cult, demanding that we engage in human sacrifices to appease the anger of invisible gods.Hey, I told you it was over the top. But bear with me for a minute.Late last year the conventional wisdom on economic policy took a...
http://www.realclearpolitics.com/2010/08/19/shun_the_apostles_of_austerity_240045.html
