* U.N. agency blames austerity, tough reforms for crisis * Says employment not back to pre-crisis levels til 2016 * Esti...

Demonstrators posing as a liberal Tea Party disrupted service at banks across the country on Saturday, in an effort to spotlight the gimmicks multi-bi...

Neither Altman nor Rubin understand that it would be ruinous for this country if the federal government took their advice. Why let evidence get in the way of a good neo-liberal theory?

Not only has the Irish crisis blown apart the myth of the virtues of fiscal austerity during rapidly declining economic activity, but it has also illustrated that Germany's bankers were every bit as culpable as their Irish counterparts.

The draft proposal released yesterday by the two chairmen of President Obama's fiscal commission is conceived and written in panic. It is a profoundly ideological and entirely unrealistic set of policy prescriptions.

Fiscal austerity proponents are clueless about the functioning of real economies and monetary systems. Hacking away the last vestiges of fiscal support will simply ensure much more misery, unemployment and social turmoil in the years ahead.

The striking feature in the current debate about austerity and stimulus has been the lack of attention to investment -- in physical and human capital -- as the proper way back to sustained growth.

When I was young and naïve, I believed that important people took positions based on careful consideration of the options. Now I know better. Much of...