Worth A Look

You Can’t Spend Your Way Out of the Crisis

New Zealand Prime Minister John Key is returning his country to a formula for prosperity that’s worked in the past. As in Britain, the U.S. and Australia in the 1980s, New Zealand’s government implemented a wide-ranging program of economic liberalization, including deep reductions in tariffs and subsidies, and privatization of state-run industries.

Leaders Go Left, But Economists Get Back To Basics

The conventional view at Davos is that a previous consensus in favor of free enterprise has taken a huge beating from the Great Crash of 2008-2009. What is much less known is that many economists are not willing to play along. Instead, the crisis seems to have scared many economists of all kinds–including some previously heterodox–to reassert the orthodox recommendations of Econ 101.

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