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Yes, its only in the majority of mainstream approaches that you'll get there faster by "removing government distortions" in the marketplace ~ in the mildly dissenting New Keynesian approach, its necessarily to push the economy back close enough to the long run growth track first.

That does not, of course, mean that all of the economists that ascribe to the majority of the mainstream approaches would support all of the austerity programs in every details ~ but certainly if the austerity programs were replaced by their preferred policy, it would still be an austerity policy stance, even if different in the details.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Wed Nov 2nd, 2011 at 10:20:19 PM EST
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