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Nobel Prize
Europe – Nobel economists say policy blunders pushing it into depression
An array of Nobel economists have launched a blistering attack on the eurozone’s economic strategy, warning that contractionary policies risk years of depression and a fresh eruption of the debt crisis. “Historians are going to tar and feather Europe’s central bankers,” said Professor Peter Diamond, the world’s leading expert on unemployment. “Young people in Spain … Continue reading
Focus on jobs, not the budget deficit says Krugman
Paul Krugman has a simple message for U.S. policymakers: Forget about the country’s huge budget deficit. It can be fixed over the next decade. Focus instead on the much more immediate problem of mass unemployment. “It’s not true we’re going over a cliff on fiscal problems,” the Nobel Prize-winning economist said in an interview with … Continue reading
Stiglitz reiterates : Austerity Pushes Europe ‘Suicide’
Europe Pushed to ‘Suicide’ on Austerity, Stiglitz Says – Bloomberg Nobel Prize-winning economist Joseph Stiglitz said Europe is in a “dire” situation as a focus on austerity pushes the continent toward “suicide.” “There has never been any successful austerity program in any large country,” Stiglitz, 69, told reporters in Vienna yesterday. “The European approach definitely … Continue reading
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