Economist Paul Krugman, in his new book - End the Depression Now! - and recent opinion columns in the New York Times, expresses exasperation with sections of the political and economic elite on both sides of the Atlantic over their stewardship of the economy.
Krugman says too many people at or near the levers of power are choosing austerity policies that could well send the world into a far deeper economic quagmire.
What drives him nearly crazy is that other choices exist and could easily be pursued if the will were there on the part of highly placed decision-makers. Such choices include accenting government spending, allowing for modest inflation, and economic growth. These would, says Krugman, lift the global economy out of the doldrums, including bringing the unemployment rate down from its current depression levels.
But to his consternation, the language and practice of austerity drowns out the voices of reason and economic revival both here and in Europe.
keyboard shortcuts: V vote up article J next comment K previous comment