The voters are reasoning beings

Are they now? They persistently elect those politicians who make you despair. And I'm not sure at all that the anti-immigrant moods can be assuaged by throwing money at the voters.

Austerity makes things worse.

There is no austerity in Western Europe (with the possible exception of Greece). Take a look at the government budgets -- did they significantly contract? Take a look at the ECB balance sheet and the current interest rates as well.


Sure. How about you deregulate the economy and let capitalism do what it does best?

From a Keynesian point of view the impression is more important than the reality. There may not be austerity, but people think there is, and they're saving rather than consuming as a result, and that slows the economy.

Open thread, Nov. 17 - Nov. 23, 2014

by MrMind 1 min read17th Nov 2014329 comments


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