Is the tide turning on the idea of austerity?
- Philip Pilkington takes issue with this week’s New York Times feature story on how well the Latvians are enduring austerity.
- The IMF thinks Latvia has gone too far.
- Last week, IMF Director Christine Legarde warned Germany to go slower in making cuts.
- And, yesterday, it (the IMF) acknowledged in a new paper that ““Forecasters significantly underestimated the increase in unemployment and the decline in domestic demand associated with fiscal consolidation,” — a finding that it began to unroll last fall.
- Former EC Commissioner Lord Mandelson warns of the obvious. Brookings experts recently reviewed Eurozone progress. Martin Edwards gives his take here.
- For those inclined, check out Mark Blyth’s talk last month at the Penn Social Science and Policy Forum on his forthcoming book Austerity: The History of a Dangerous Idea. If you jump to the 9th segment, you’ll get to his discussion of these most current trends — including Latvia.
Dan here: also check out this post by John Quiggin on the fiscal multiplier.
Jon Western has spent the last fifteen years teaching IR in liberal arts colleges at Mount Holyoke College and the Five Colleges in western Massachusetts. He has an eclectic range of intellectual interests but often writes on international security, U.S. foreign policy, military intervention, and human rights. He occasionally shares his thoughts about professional life in liberal arts colleges. In his spare time he coaches middle school soccer, mentors the local high school robotics team, skis, and sails.
- Jon Westernhttps://www.duckofminerva.com/author/jwestern
- Jon Westernhttps://www.duckofminerva.com/author/jwestern
- Jon Westernhttps://www.duckofminerva.com/author/jwestern
- Jon Westernhttps://www.duckofminerva.com/author/jwestern
- Jon Westernhttps://www.duckofminerva.com/author/jwestern
- Jon Westernhttps://www.duckofminerva.com/author/jwestern
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