Larry Summers

Martin Wolf and his academic mentors warned that austerity would be economic suicide. They were and are mistaken

The conventional wisdom on fiscal policy doesn’t add up. A glance at the data and one realises that the media panic is unjustified

‘To Keynesians such as Martin Wolf and Larry Summers, the theory is simple: cuts in public expenditure and reductions in deficits have deflationary effects. But what about the evidence?’