Mistaken moralistic economics
dimanche 19 mai 2013 à 14:00Paul Krugman explains how psychology predisposes people towards mistaken moralistic economics which treats a depression as punishment for previous "excesses".
Keynes's discovery, that governments can end a depression with deficit spending or else perpetuate it, delivers useful advice instead of the morality play that people are looking for. This plays into the hands of those who profit from a crisis.