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Junger Gott

" As a result, when Keynesian economics appeared to falter in the 1970s, austerity-based economics came roaring back and dominated economic thinking for decades."

Most people would agree that Keynesian ideology did not just "appear to falter" starting in the late sixties where, it really did falter badly.


Andrew, I think you run a great blog but I do not agree with your view on austerity. Apart from this disagreement I think that the scientific, i.e. macroeconomic foundation on what entails specifically austerity and what it leads to is beyond the reach of most of the current debate on the topic, and that includes this one here. So you are discussing a scientific topic in non-scientific terms and I believe you would refrain from that behavior in other fields.

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