Simon Wren Lewis tweets on the Budget.

The full thread talks of macro-economic illiteracy, the need to stimulate demand and the fact that this is a budget for austerity. He writes more on his blog, mainly macro where he talks about the need to spend more on those with less savings i.e. the poorer 20% of our society and repeats Econ 101, that fiscal policy is

Much of the public still associate fiscal consolidation with acting responsibly whatever the context. They haven’t learnt the folly of 2010 onwards because much of the media has not learnt it either. The big international economic institutions may have understood the need for fiscal activism during a recovery, but our media have not.

Simon Wren-Lewis – Mainly Macro

Paul Mason provides the first, comment, in which he slags of those who decided that corporation tax rather than demand was the key issue to fight the budget on.

It’s demand stupid
Tagged on:     
%d bloggers like this: