Hi All
A number of interesting articles have popped up over the past few weeks as a result of the IMF lecturing the UK government and some pretty notable Economists changing their opinions based on some data mistakes. Who said that putting 5 Economists in a room would result in 6 opposing opinions?
Anyway read a few of these articles and make up your own mind. Has Austerity held back UK growth or stabilized the economy in the long term? Can you draw parallels with Thatchers policies and the credit given to her (in some circles) for those same divisive policies?
Oh and if you are an Economics student and you are not interested in this debate then you are not going to do quite so well in your exams as you may hope... And those who are feel free to challenge my own opinion. I come down on the side of Keynes and the argument that austerity in a recession prolongs the pain and you need to intervene to get growth back up in an economy. That said I may have 2 other opinions on the same subject which I will use depending on my mood.
A number of interesting articles have popped up over the past few weeks as a result of the IMF lecturing the UK government and some pretty notable Economists changing their opinions based on some data mistakes. Who said that putting 5 Economists in a room would result in 6 opposing opinions?
Anyway read a few of these articles and make up your own mind. Has Austerity held back UK growth or stabilized the economy in the long term? Can you draw parallels with Thatchers policies and the credit given to her (in some circles) for those same divisive policies?
Oh and if you are an Economics student and you are not interested in this debate then you are not going to do quite so well in your exams as you may hope... And those who are feel free to challenge my own opinion. I come down on the side of Keynes and the argument that austerity in a recession prolongs the pain and you need to intervene to get growth back up in an economy. That said I may have 2 other opinions on the same subject which I will use depending on my mood.
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