Reinhart, Rogoff Back Away From Austerity Association

Reinhart, Rogoff Back Away From Austerity Association
Carmen Reinhart, a professor at Harvard University, speaks at the Bloomberg Markets 50 Summit in New York, U.S., on Thursday, Sept. 13, 2012. The conference brings together the world's most influential leaders in finance, business and government to discuss the global economy. Photographer: Jin Lee/Bloomberg via Getty Images
Carmen Reinhart, a professor at Harvard University, speaks at the Bloomberg Markets 50 Summit in New York, U.S., on Thursday, Sept. 13, 2012. The conference brings together the world's most influential leaders in finance, business and government to discuss the global economy. Photographer: Jin Lee/Bloomberg via Getty Images

Harvard economists Carmen Reinhart and Kenneth Rogoff have responded once again to the ongoing contentious debate over whether tough austerity measures are helpful or harmful to an economy, this time underlining their message that the debate is more nuanced than some would believe and policy makers have more tools available to them.

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