“I’ve listened to Keynesians like Paul Krugman argue that the way to fix the mess is to open the government spending spigot and invest like crazy.
And I’ve listened to Austerians like Niall Ferguson argue that the way to fix the mess is to cut spending radically, balance government budgets, and unleash the private sector.
And I’ve also looked back at history—namely, Reinhart and Rogoff’s analysis of prior financial crises, the Great Depression, Japan, Germany after Weimar, and so forth.
And more and more it appears that Keynes was right.” IT’S OFFICIAL: Keynes Was Right - Business Insider
And I’ve listened to Austerians like Niall Ferguson argue that the way to fix the mess is to cut spending radically, balance government budgets, and unleash the private sector.
And I’ve also looked back at history—namely, Reinhart and Rogoff’s analysis of prior financial crises, the Great Depression, Japan, Germany after Weimar, and so forth.
And more and more it appears that Keynes was right.” IT’S OFFICIAL: Keynes Was Right - Business Insider
