If the thinktank sticks to its guns over coordination between countries,there could enough fireworks to rival Chinese new year at G20 At final, the OECD has converted to the teachings of John Maynard Keynes. The austerian non-believers, and for so long the dominant force in the Paris-based thinktank,are banished to a distant land. Common sense has prevailed.
As revolutions travel, it has taken a while. Five years ago ago, and the priority was public spending cuts. George Osborne was lauded. Then there was muted criticism. Now the austerity delusion,as the economist Paul Krugman called it, is no longer a central tenet of thinking at the Organisation for Economic Co-operation & Development, and the club formed to supply advice to 34 wealthy countries. Related: OECD calls for less austerity and more public investment Continue reading...
Source: theguardian.com