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John Nichols: Time for the Austerity Hawks to Check Their Math | The Nation

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Nation in the News

Nation in the News

TV and radio appearances by Nation writers and editors, big Nation announcements.

John Nichols: Time for the Austerity Hawks to Check Their Math

Harvard economists Carmen Reinhart and Kenneth Rogoff once concluded that economies stall when debt reaches 90 percent of GDP. A recent paper from Amherst College points out important holes in the Harvard paper's conclusions—and, in turn, the austerity playbook. "This study, on which so much of the austerity agenda, so much of our actual politics...so much of what they've based their argument on," Nation writer John Nichols says, "as the Harvard economists acknowledge, contains significant mistakes." Nichols joins KPFA radio (about 7 minutes into the show) to discuss the nuts, bolts and implications of the new findings.

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