Tuesday, 16 June 2015

Simon Wren-Lewis V Roger Farmer

Somewhat surprisingly ( and amusingly) Simon Wren-Lewis and Roger Famer are at odds over fiscal policy in 'normal' circumstances.

I have to admit I am with Roger on this but it might all turn on what are 'normal' circumstances are.

As we have seen before Keynesian fiscal policy is a hellva lot tighter than classical economics in 'normal' circumstances.

I should ad this is vastly different to the letter 364 economists wrote to Margaret Thatcher. they were in fact CORRECT