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View Diary: Abbreviated Pundit Round-up (229 comments)

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  •  deficit reduction based on false research (0+ / 0-)
    Reinhart and Rogoff (R&R) are the authors of the widely acclaimed book on the history of financial crises, This Time is Different. .... The moral is to make sure the debt-to-GDP ratio does not get above 90%.
    But they got their numbers wrong.
    This is a big deal because politicians around the world have used this finding from R&R to justify austerity measures that have slowed growth and raised unemployment.
    If facts mattered in economic policy debates, this should be the cause for a major reassessment of the deficit reduction policies being pursued in the United States and elsewhere.
    http://www.guardian.co.uk/...

    "Your victory has demonstrated that no person anywhere in the world should not dare to dream of wanting to change the world for a better place." -- Mandela

    by agoldnyc on Sun Apr 21, 2013 at 11:14:16 AM PDT

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