Do Budget Cuts Lead to Growth?

Will Milberg Richard McGahey   Michael Cohen

On December 13, 2011, SCEPA hosted a panel of New School economists to discuss the deep divide among economists around questions of austerity and to analyze policy responses outside the U.S. The event featured a lively discussion between panelists and audience members of how draconian budget cuts came to be the dominant policy prescription, why so many economists and policymakers support the illogical contention that cutting public sector jobs and spending will spur employment and consumption, and alternatives to the  dominant economic voices advocating austerity as a cure for slow growth. 

The presentations included:

William Millberg, Professor of Economics and Chair, Department of Economics, NSSR: "Austerity and Growth in Economics"

Richard McGahey, Professor of Professional Practice, Public Policy and Economics, Urban Policy Program, Milano School: "Congressional Supercommittees and the End of Berlusconi: the US and Europe"

Michael Cohen, Professor of International Affairs and Director, Graduate Program in International Affairs, Milano School: "Do Budget Cuts Lead to Growth? The Experience of Latin America"

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