| inbluevt | Date: Tuesday, 2013/04/23, 8:42 PM | Message # 1 | DMCA |
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Since 2010, the names of Carmen Reinhart and Kenneth Rogoff have become famous in political and economic circles. These two Harvard economists wrote a paper, “Growth in the Time of Debt” that has been used by everyone from Paul Ryan to Olli Rehn of the European Commission to justify harmful austerity policies. The authors purported to show that once a country's gross debt to GDP ratio crosses the threshold of 90 percent, economic growth slows dramatically. Debt, in other words,
seemed very scary and bad.
Read further. This is amazing and appalling.
Message edited by inbluevt - Tuesday, 2013/04/23, 8:45 PM |
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