3 ms·
"thinks austerity in parts of Europe has gone too far, etc." This is significant editorial change of heart. The Economist was a loud, regular voice in favor of
by jonnathanson 10y ago
"thinks austerity in parts of Europe has gone too far, etc."
This is significant editorial change of heart. The Economist was a loud, regular voice in favor of austerity policies for many years. That it has written critically of austerity programs in 2016-17 is great, but it's something of a Damascene conversion for the paper.
- zigzigzag 10y agoThey changed editor. Micklethwaite stepped down and he was replaced by Zanny Minton Beddoes, who apparently has rather different political views ...
- FabHK 10y agoMaybe, though a more charitable interpretation is that more and more evidence came through for more Keynesian view points. There was the discrediting of the R-R paper, there was more and more papers critical of austerity coming out of the IMF of all places, etc. As Keynes is reputed to have said, "When the facts change, I change my mind. What do you do, sir?"