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IMF admits that austerity was a miscalculation

 
Anonymous Coward
User ID: 34688065
United States
03/03/2013 01:53 PM
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IMF admits that austerity was a miscalculation
It is a quite startling report: a well-analysed and quantified mea culpa signed by two eminent IMF economists, explaining quite clearly that austerity is a mistake, the result of a poorly designed computer model of economic prediction..

They are convinced that all that is needed is to tweak their computing model by increasing the variable "human factor". They see no problem in imposing global policies based on a threat that is nothing more than the result of an algorithm.

Let us just remind you that “human decisions affecting the future, whether personal or political or economic, cannot depend on a strict mathematical expectation, since the basis for making such calculations does not exist," as some chap called Keynes once said in 1936...


Sorry about the dead, it was a miscalculation!

The error that does not serve as a lesson!

[link to www.humanite.fr]

Article in French.

The IMF's next move could cause a currency war!

This is getting worrisome!
Anonymous Coward (OP)
User ID: 34688065
United States
03/03/2013 01:57 PM
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Re: IMF admits that austerity was a miscalculation
Here is an english translation..

[link to www.humaniteinenglish.com]
Luisport

User ID: 35493899
Portugal
03/03/2013 02:02 PM

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Re: IMF admits that austerity was a miscalculation
bump
insertfunnyusername

User ID: 35367172
United States
03/03/2013 02:07 PM

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Re: IMF admits that austerity was a miscalculation
They do this kind of stuff tbh.


IMF's Thomsen: The program for Greece was wrong anon
[link to www.protothema.gr]
 Quoting: insertfunnyusername
Sammie

User ID: 9846936
United States
03/03/2013 02:20 PM

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Re: IMF admits that austerity was a miscalculation
Bump
5* & pin it!
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Kael

User ID: 1451069
Romania
03/03/2013 02:22 PM
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Re: IMF admits that austerity was a miscalculation
bump
"Thou we are not now that strength which in old days moved earth and heaven that which we are, we are.
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Anonymous Coward
User ID: 27962372
Norway
03/03/2013 02:30 PM
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Re: IMF admits that austerity was a miscalculation
It is a quite startling report: a well-analysed and quantified mea culpa signed by two eminent IMF economists, explaining quite clearly that austerity is a mistake, the result of a poorly designed computer model of economic prediction..

They are convinced that all that is needed is to tweak their computing model by increasing the variable "human factor". They see no problem in imposing global policies based on a threat that is nothing more than the result of an algorithm.

Let us just remind you that “human decisions affecting the future, whether personal or political or economic, cannot depend on a strict mathematical expectation, since the basis for making such calculations does not exist," as some chap called Keynes once said in 1936...


Sorry about the dead, it was a miscalculation!

The error that does not serve as a lesson!

[link to www.humanite.fr]

Article in French.

The IMF's next move could cause a currency war!

This is getting worrisome!
 Quoting: Yellow Bird


austerity is just sucking out wealth from the income generating part of the economy and poor and transfer it to the rich in bank and finance.. and they dont produce stuff

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