The Austerity Debate
Betsey Stevenson and Justin Wolfers discuss the impact of austerity measures and the responsibility of economists in shaping the debate. They address the misconception that a correction in research would have changed the claims made, and highlight the tendency for individuals to seek out research that supports their pre-existing views. Russ Roberts adds that while he doesn't judge the economists' culpability, it is important to be cautious of high levels of debt and their potential consequences.In this clip
From this podcast
EconTalk
Betsey Stevenson and Justin Wolfers on Happiness, Growth, and the Reinhart-Rogoff Controversy
Related Questions
How did the 2008 financial crisis influence the economy as discussed in the episode Scott Sumner on Money, Business Cycles, and Monetary Policy and the clip The Perfect Storm?
Could there be a global economic crisis as discussed in the episode Economics Needs to Reckon With What It Doesn’t Know and the clip Fiscal Uncertainty Debate?