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Published On: Mon, Feb 13th, 2012

Don Boudreaux’s latest take on Krugman’s ‘austerity’ claims

I’m letting Don Boudreaux provide the answer today to Paul Krugman’s claim that Great Britain’s government is following a policy of “austerity.” (By the way, “austerity” is nothing more than government not engaging in reckless borrowing and spending. I guess if I am not trying to get as many credit cards and maxing out of them, then my household is in an “austerity” pattern, and all of us know about the dastardly Paradox of Thrift of which Krugman warns.)

Take it away, Don.

 

Check out the “Krugman in Wonderland” posts here the Disptach – click here


William L. Anderson is an author and an associate professor of economics at Frostburg State University in Maryland. He is also an adjunct scholar with the Mackinac Center for Public Policy as well as for the Ludwig von Mises Institute in Alabama.

Read more at “Krugman-in-Wonderland”

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About the Author

- William L. Anderson is an author and an associate professor of economics at Frostburg State University in Maryland. He is also an adjunct scholar with the Mackinac Center for Public Policy as well as for the Ludwig von Mises Institute in Alabama.

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