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This is a very good article, although I wonder if the key point comes through clearly enough. The most damaging policies undertaken in the name of free-market economics aren't actually grounded in economic theory 1/ bostonreview.net/forum/suresh-n…
In fact, fairly standard models say that fiscal austerity in the face of high unemployment is a terrible mistake, that the optimal tax rate on high incomes may be 70 percent or more, that privatization is at best a double-edged policy, and more 2/
People don't know this – and to be honest, there are always some well-known economists willing to invest new analyses on the fly to justify whatever conservatives want to do. But the problem isn't with economics itself 3/
