Should half-finished, hand-waving academic essays be the basis for economic policy?

It is not something we did not all suspect or know and it is certainly not the first time the IMF screws up in its own game. It turns out that the IMF has been “rescuing” Greece using multipliers equal to .5 when current revisions have them more at 1.8! No wonder Olivier Blanchard adds a touchy-feely twist to the IMF’s latest World Economic Outlook. After sinking an already ailing Greek economy to a mortal recession the IMF now suggest the world should take its time with fiscal  adjustments. As I am looking at the troikan three stooges ruining my homeland from here I wonder whether we can really base policy making on half baked, half finished, academic essays. While we all ponder about the self evident answer to this question can someone get these bozos out of there before they do any more damage?

PS: Νικολη χαιρετισμους. Μπλεξαμε.

 

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