David Smith's EconomicsUK.com
Austerity myths revisited Posted by David Smith at 01:00 PM Category: Thoughts and responses My piece on Friday, The Myth of Abandoned Austerity, has attracted quite a lot of interest. It had a simple aim - to demonstrate that fiscal consolidation, deficit reduction, continued throughout the parliament, alongside recovery. Simon Wren-Lewis, a professor of economics at Oxford, devoted a blog post to it, here. Jonathan Portes, director of the National Institute of Economic and Social Research, was typically condescending, tweeting that I was "confused (& confusing)". Let me respond to Simon. But Simon answers the question himself: “I know this cannot be the case because I have never said that austerity was abandoned in 2012. That means, he suggests, that I am guilty of creating a straw man. This is not quite the same, of course, as economists that Simon might know saying austerity has been abandoned. (More...)
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