Mandel and Keynes

Michael Cohen mike at cns.bu.edu
Thu Sep 17 10:43:07 PDT 1998


Doug Henwood wrote:


> The fiscal tightening across the OECD has been pretty stunning. According
> to OECD estimates, the cyclically adjusted deficit in the EU was -5.3% of
> GDP; it's likely to be around -1.5% this year, a shift of 3.8 percentage
> point. The U.S. went from -4.0% to 0.0%, a shift of 4 percentage points....

Doug, do you any ideas as to why you think this is. It doesn't seem likethe most intelligent move in this situation. Given the economic crisis is what its trumped up to be for the First World

--mike

-- Michael Cohen mike at cns.bu.edu Associate Professor, Center for Adaptive Systems Work: 677 Beacon, Street, Rm313 Boston, Mass 02115 Home: 25 Stearns Rd, #3 Brookline, Mass 02146 Tel-Work: 617-353-9484 Tel-Home:617-734-8828 Tel-FAX:617-353-7755



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