By Daniel J. Mitchell
With both France and Greece deciding to jump out of the left-wing frying pan into the even-more-left-wing fire, European fiscal policy has become quite a controversial topic. But I find this debate and discussion rather tedious and unrewarding, largely because it pits advocates of Keynesian spending (the so-called “growth” camp) against supporters of higher taxes [...]
Paul Krugman and the European Austerity Myth is a post from Cato @ Liberty – Cato Institute Blog
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By Juan Carlos Hidalgo
When it comes to discussing Latin America, Paul Krugman has a tortuous relationship with facts. Let’s take a look at a post he wrote last week on inequality in the region. Krugman claims that Latin America’s decline in inequality in the last decade is due to the region “partially turning its back on the Washington [...]
Paul Krugman’s Distorted Views on Inequality in Latin America is a post from Cato @ Liberty – Cato Institute Blog
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Ezra Klein, Mark Thoma, and Paul Krugman take issue with David Brooks for suggesting that the failure in recent years to keep budget deficits under control represents a moral issue. “Every generation has an incentive to spend on itself,” Brooks writes, “but none ran up huge deficits until the current one. Some sort of moral norms prevented them.” Krugman and company are having none of it. In their view, busting deficits are just the natural result of a recession, not a matter of American virtue or character. “Current deficits reflect … More
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Some prominent left-wing commentators have devoted weekly columns and blogs to the notion that Great Britain has misguidedly pursued harsh spending “austerity” and that doing so has left the country lingering in unnecessary anguish. In the opinion pages of The New York Times, Paul Krugman inveighs that: Britain, in particular, was supposed to be a showcase for “expansionary austerity,” the notion that instead of increasing government spending to fight recessions, you should slash spending instead—and that this would lead to faster economic growth. Such invocations of the confidence fairy were … More
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