“Mark Blyth, author of Austerity: the History of a Dangerous Idea, argues that not only has the policy of slashing state spending so far failed to repair the economy, it can never work. Instead he proposes that economists take a version of the Hippocratic oath to 'do no harm'. He says that policymakers must examine the evidence of austerity's failure and not be afraid to change their minds before it's too late”.
Watch the video:
Presented by Aditya Chakrabortty and produced by Phil Maynard
http://www.guardian.co.uk/commentisfree/video/2013/may/24/austerity-history- dangerous-idea-video
Read More:
Life, death and economics: Austerity is a killer
http://www.gcgi.info/blog/397-life-death-and-economics-austerity-is-a-killer
In Praise of the Economic Students at the Sorbonne: The Class of 2000
http://www.gcgi.info/blog/392-in-praise-of-the-economic-students-at-the-sorbonne-the-class-of-2000
Thatcherism- the poisonous ideology that became the global norm
http://www.gcgi.info/blog/379-thatcherism-the-poisonous-ideology-that-became-the-global-norm