Debt-fueled spending programs aimed at combating the global financial crisis of 2008 are among policy tools now "being seen as a magic elixir that has morphed into poison."
While I tend to agree with Jeffrey Sachs' central thesis about a misguided Keynesian response to economic crisis, we've seen pronouncements about the death of various schools of economic thought before.
And while I think he paints with an overly broad and partisan brush, I think Derek Thompson at The Atlantic makes a solid point - Sachs, as he expands his argument, is arguably trying to have his cake and eat it too.
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