johnny9fingers (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
johnny9fingers) wrote2013-04-19 01:57 pm
johnny9fingers) wrote2013-04-19 01:57 pm
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And because I saw this I just had to share.
http://www.businessinsider.com/the-best-defense-of-reinhart-and-rogoffs-flawed-debt-study-2013-4
From the Business Insider, a short piece by joe-weisenthal.
Where he quotes Paul Krugman
"As Paul Krugman states in one of his (several) posts on the Reinhart/Rogoff issue: "the larger story is the evident urge of Very Serious People to find excuses for inflicting pain."
Read more: http://www.businessinsider.com/the-best-defense-of-reinhart-and-rogoffs-flawed-debt-study-2013-4#ixzz2QuhME9cL
From the Business Insider, a short piece by joe-weisenthal.
Where he quotes Paul Krugman
"As Paul Krugman states in one of his (several) posts on the Reinhart/Rogoff issue: "the larger story is the evident urge of Very Serious People to find excuses for inflicting pain."
This impulse, to show your seriousness by promoting pain, is the real overriding drive behind austerity, not an academic study.
For example after Obama publicly embraced a "chained CPI" (a form of Social Security cut). Economist Dean Baker told Business Insider: "You piss on the people who care about Social Security, then you're serious."
Read more: http://www.businessinsider.com/the-best-defense-of-reinhart-and-rogoffs-flawed-debt-study-2013-4#ixzz2QuhME9cL