Monday, March 11, 2013

The "shock therapy" Sachs?

Remember the "shock therapy" advocate Jefferey Sachs, who in early 1990s prescribed rapid and systemic change to the former soviet block countries?

You would think he might advocate bold economic actions as a way to counter the severe recession of 2008?

To the contrary, he is all for the long-term, careful, structural, deficit-paranoid, piecemeal approach.

Surprising.

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