Media Briefings

Economists’ ‘Manifesto’ questions wisdom of austerity

  • Published Date: June 2012

As the European Union summit got underway in late June 2012, Nobel laureate Paul Krugman and LSE professor Richard Layard lay down a challenge to the seeming orthodoxy which says that public deficits are the main cause of the present economic stagnation.

In their 'A Manifesto for Economic Sense', published in the Financial Times on Thursday 28 June 2012, they invited all economists to join on the manifesto’s website in condemning excessive fiscal austerity.

The manifesto is available on the FT website and here:

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