Saturday, April 20, 2013

Meet The Two Most Dangerous Economists In The World Right Now


From the site:

And though nobody takes the "confidence fairy" argument very seriously, pro-cutting politicians are armed with some intellectual heft: Frequently during the debate we heard politicians cite the work of economists Carmen Reinhart (University of Maryland) and Ken Rogoff (Harvard), who have argued over the last couple of years that higher public debts contribute to lower GDP growth. And, conveniently, they've made a big deal over this idea that a 90% debt-to-GDP ratio represents some kind of tipping point, over which growth slows fast. Their ideas are outlined in the book This Time It's Different, which has been a huge hit.

No comments:

Post a Comment