Monday, May 20

Here is tonight's reading. It's a follow-on to today's review of our work on fiscal policy in the U.S. and globally (for example, at the World Bank and I.M.F., as well as in the Eurozone recently), especially austerity policies. Tonight's reading focuses on the question, Why have so many powerful institutions (and governments) pushed austerity programs even after it became clear (as Krugman believes) that they weren't working?

Write up your summary of Krugman's arguments, and add your own thoughts, and bring that to class tomorrow.

BTW--Here's the link to a related piece by Krugman that we reviewed in class today.