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> They are not idiots, just highly motivated political operators using papers full of mistakes to make a point. That's a repeat of the old tired strawman that
by geezerjay 8y ago
> They are not idiots, just highly motivated political operators using papers full of mistakes to make a point.
That's a repeat of the old tired strawman that tries to avoid discussing the facts and the data by depicting any academic who authors an inconvenient paper as being a political agent involved in some widespread anti-socialist conspiracy.
Meanwhile, let's not forget that the people attacking the Roggof&Reinhart paper are somehow criticizing the fact that highly indebted states experience lower growth rates, as if either increasing sovereign debt or siphoning cash from the budget to service debt has no impact on the nation's finances.
- luckydata 8y agoOh my, where do I start. Alright, let's go in order. re:Strawman - So you're trying to tell me that the Chicago School of Economics doesn't have a right leaning bent and inspires itself in the work of the Austrian economics. Yeah, you could say that but it's bullshit. re: high indebtness. people criticizing RR are doing it because the paper is bad. Plus, as Paul Krugman correctly notes, high level of debt could be a result of economic slowdown and not the cause (best example is Japan). see more: https://www.nytimes.com/2013/04/19/opinion/krugman-the-excel-depression.html https://www.nytimes.com/2013/04/19/opinion/krugman-the-excel... Sorry that reality doesn't agree with your views.