“..For most Americans, a trip to London means drinking a few pints and maybe taking a picture of one of those guards with the hats.
For Paul Krugman, it means critiquing the entire direction of Britain’s economic policy.
Krugman, the Nobel Prize-winning economist and left-leaning New York Times columnist -
- appeared on the BBC program “Newsnight” this Wednesday, jousting with two British deficit hawks over the U.K.’s austerity agenda.
The Brits — venture capitalist Jon Moulton and Conservative Member of Parliament Andrea Leadsom -
- argued that the British government has to reduce spending if the country is to dig itself out of the economic slump it’s been in.
Krugman countered that such a strategy could cause Britain’s economy to implode -
- since he said – the public and private sectors need to circulate money to each other in order for anyone to prosper…”
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