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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (147908)	10/22/2010 7:56:24 PM
From: JohnM	Read Replies (1) \| Respond to of 542829

What more than me? Actually Krugman is standing more alone as time goes by. Not on Japan, which is what that comment was about. Like i continually argue though John, those countries that were pushing the envelope in Keynesian style spending are hurting the most while those more conservative and also addressing their debt issues are doing far better. The comments here were about the historical record not about the implementation of a concept. In each of the three cases, the reason Krugman invoked them, was that austerity policies led to more dramatic economic downturns. You might wish to argue that austerity was not the cause. But given the amount of data Krugman generally brings to play with these arguments (well, admittedly keeps it in the background to keep op ed columns readable and short), it is a genuinely awesome task to argue against him on this point. Off to watch the Yankees/Rangers game, weather permitting.