It must suck to be a liberal economist these days. The entire field has been distorted by conservatives who look at reality and refuse to acknowledge it. This is a field with highly educated people and they look at a chart of Ireland’s austerity fueled “recovery” and claim “It worked!”
Wow. What a success story! Sure, Ireland’s a smoldering wreck, but look! The fires are out! Victory!
As the German finance minister, Wolfgang Schäuble, a fiscal hawk, put it in October: “Ireland did what Ireland had to do. And now everything is fine.”
It must be nice to live in that kind of bubble. Once upon a time, conservatives raged about “Ivory Tower” liberals that were out of touch with the common man. These days, the Ivory Tower 1% gaze down from their lofty positions of power and can’t even see the
ants peons unwashed scum rest of us scurrying about. A few million unemployed here, a few unemployed million there, nothing to worry about as long as the stock markets are stable.