Paul Krugman demolishes the ‘Austerity’ argument

Newsnight BBC2 May 30th 2012

‘Nobel laureate Paul Krugman takes down a fat cat Tory donor and a Tea Party Tory MP on BBC Newsnight, admonishing their austerity lust and cuts hunger.’ Left Foot Forward

John Moulton of Better Capitol ltd. and Andrea Leadsome MP attempted to argue for Osborne’s austerity programme with Paul Krugman, but merely succeeded in looking completely absurd. Krugman likened ‘austerity’ to bloodletting.. the more blood lost, the weaker the patient becomes… not only does ‘austerity’ shrink the size of the economy in the short term, but also for the future.

The most frightening aspect of the whole interview was that Andrea Leadsome actually seemed to believe what she was saying!

6 thoughts on “Paul Krugman demolishes the ‘Austerity’ argument

  1. Watched it live. It was the yawning chasm in intellect that left me speechless. The two Tories represented ‘the best’ that the uk could offer!!

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  2. While I agree with Krugman and think he did very well here, these two politicians are far from the best that the Right could have offered. They’re total nobodies. If they’d got someone like George Osborne or David Laws on the show the counter-arguments might have been a bit less shockingly awful.

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