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Apr 10, 2013

Thatcher, Analysis, and Deficit

Krugman argues that the data shows the rebound in the UK happened starting in the mid-90’s well after Thatcher implemented her reforms – so she should not get the credit.  In a recent post he also explains how Thatcher generally scrapped progressive taxes for regressive taxes and this was her downfall as her support of a poll tax let to her ouster.  He then compares to her Jindal (darling of the GOP governor of Louisiana) who also supports a regressive sales tax and goes on to show how this is costing Jindal support.

Krugman also posts that it is not critical to know a lot of math to do good economics – the most important thing is intuition and analysis and not get caught up in slogans.

Also there is another post on where he highlights some work being presented that shows deficit/debt is not the end of the world.  This provides him an opportunity to say “I told you so” as he reveals over the fact that he has been yelling about this for a while and now he is starting to see it more widely disseminated.

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