Wednesday 3 April 2013

Austerity measures raises the concern over inter-temporal equity

Simon Johnson's excellent article on inter-temporal equity over fiscal austerity. Standard economic model that assumes indefinite time horizon may not be useful here. His quote...very true.

"Today’s children did not play a role in any of these policy mistakes. The preschoolers who are about to lose access to Head Start weren’t even born when they were made."

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