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                <title>Economic Reflections | Project Syndicate RSS-Feed</title>
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                  <![CDATA[Economic Reflections]]>
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  <item>
    <title>The Night-Watchman State’s Last Shift</title>
    <description><![CDATA[Too often, debate about the relationship between the state and the market casts them as opposing forces locked in a zero-sum struggle. But this simplistic approach quickly renders constructive discussion a casualty of the ideological battle between advocates of state and market capitalism.]]></description>
	<comments>http://www.project-syndicate.org/commentary/reframing-the-state-market-relationship-by-andrew-sheng-and-geng-xiao</comments>
	<slash:comments>0</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/reframing-the-state-market-relationship-by-andrew-sheng-and-geng-xiao</guid>
    <link>http://www.project-syndicate.org/commentary/reframing-the-state-market-relationship-by-andrew-sheng-and-geng-xiao</link>
	<pubDate>Wed, 22 May 2013 16:00:22 +0000</pubDate>
	<dc:creator>Andrew Sheng, et al. </dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/c8d1b6c88dabc059ba8abad053abcce5.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Paul Lachine</media:copyright>
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    <title>The Debt-Growth Controversy</title>
    <description><![CDATA[The recent controversy over errors in a 2010 paper by the economists Carmen Reinhart and Ken Rogoff is a sad commentary on the politically toxic atmosphere surrounding fiscal policy in the US, Europe, and Japan. The Reinhart/Rogoff paper is just a small part of a large literature that shows high debt levels to be economically risky.]]></description>
	<comments>http://www.project-syndicate.org/commentary/understanding-the-tradeoff-between-debt-and-economic-growth-by-michael-boskin</comments>
	<slash:comments>4</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/understanding-the-tradeoff-between-debt-and-economic-growth-by-michael-boskin</guid>
    <link>http://www.project-syndicate.org/commentary/understanding-the-tradeoff-between-debt-and-economic-growth-by-michael-boskin</link>
	<pubDate>Wed, 22 May 2013 15:00:22 +0000</pubDate>
	<dc:creator>Michael Boskin</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/05e71b42a581a3f4a96a014832fffc5f.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Paul Lachine</media:copyright>
	</media:content>
	
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    <title>Austere Illusions</title>
    <description><![CDATA[A government cannot liquidate its deficit if the source of its revenues, the national income, is diminishing. It is deficit reduction, not debt, that is profligate, because it implies wastage of available human and physical capital, quite apart from the resulting misery.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-predictable-failure-of-fiscal-austerity-by-robert-skidelsky</comments>
	<slash:comments>1</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/the-predictable-failure-of-fiscal-austerity-by-robert-skidelsky</guid>
    <link>http://www.project-syndicate.org/commentary/the-predictable-failure-of-fiscal-austerity-by-robert-skidelsky</link>
	<pubDate>Tue, 21 May 2013 09:00:00 +0000</pubDate>
	<dc:creator>Robert Skidelsky</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/7af05a63a6d158b4e832020a93acfb18.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Chris Van Es</media:copyright>
	</media:content>
	
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    <title>Reinvigorating Egypt’s Economy</title>
    <description><![CDATA[While blaming the revolution is not a persuasive explanation for Egypt’s current economic woes, its appeal to many Egyptians is understandable. Over the last few months, their economic situation has gone from bad to worse.]]></description>
	<comments>http://www.project-syndicate.org/commentary/high-hopes-and-large-disappointments-for-egypt-by-mohamed-a--el-erian</comments>
	<slash:comments>1</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/high-hopes-and-large-disappointments-for-egypt-by-mohamed-a--el-erian</guid>
    <link>http://www.project-syndicate.org/commentary/high-hopes-and-large-disappointments-for-egypt-by-mohamed-a--el-erian</link>
	<pubDate>Mon, 20 May 2013 17:00:30 +0000</pubDate>
	<dc:creator>Mohamed A. El-Erian</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/4128561bb70ca6eeb7fb03db7e36508a.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Paul Lachine</media:copyright>
	</media:content>
	
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    <title>The Flawed Origins of Expansionary Austerity</title>
    <description><![CDATA[As the case for austerity in a time of recession has weakened under the continuing onslaught of facts (most notably the recessions in Europe), advocates of fiscal stimulus have found the missteps of their opponents Carmen Reinhart, Ken Rogoff, and Niall Ferguson to be convenient weapons. But they are the wrong weapons.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-case-against-expansionary-austerity-by-jeffrey-frankel</comments>
	<slash:comments>7</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/the-case-against-expansionary-austerity-by-jeffrey-frankel</guid>
    <link>http://www.project-syndicate.org/commentary/the-case-against-expansionary-austerity-by-jeffrey-frankel</link>
	<pubDate>Mon, 20 May 2013 15:20:13 +0000</pubDate>
	<dc:creator>Jeffrey Frankel</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/a9476b77c570378950f812fa8d754423.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Margaret Scott</media:copyright>
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    <title>Learning About Growth from Austerity</title>
    <description><![CDATA[All countries face complex choices with respect to the timing of austerity, perceived sovereign credit risk, and growth-oriented reforms. Today, advanced countries' previous emphasis on austerity may be giving way to a more balanced approach to boosting economic growth and employment.]]></description>
	<comments>http://www.project-syndicate.org/commentary/moving-from-austerity-to-a-more-balanced-agenda-by-michael-spence</comments>
	<slash:comments>7</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/moving-from-austerity-to-a-more-balanced-agenda-by-michael-spence</guid>
    <link>http://www.project-syndicate.org/commentary/moving-from-austerity-to-a-more-balanced-agenda-by-michael-spence</link>
	<pubDate>Sat, 18 May 2013 09:00:00 +0000</pubDate>
	<dc:creator>Michael Spence</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/aabc272a4d8d976f7e05c2cc66a1a597.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Paul Lachine</media:copyright>
	</media:content>
	
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    <title>Open-Access Economics</title>
    <description><![CDATA[The brouhaha over Carmen Reinhart’s and Kenneth Rogoff’s article “Growth in a Time of Debt” has raised troubling questions not only about the efficacy of austerity, but also about the reliability of economic analysis. If a flawed study could appear in a prestigious working-paper series, why should anyone trust economic research?]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-real-problem-with-reinhart-and-rogoff-by-barry-eichengreen</comments>
	<slash:comments>11</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/the-real-problem-with-reinhart-and-rogoff-by-barry-eichengreen</guid>
    <link>http://www.project-syndicate.org/commentary/the-real-problem-with-reinhart-and-rogoff-by-barry-eichengreen</link>
	<pubDate>Fri, 17 May 2013 09:00:00 +0000</pubDate>
	<dc:creator>Barry Eichengreen</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/b44ba7c72ab3624aaae37895f6a82909.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Pedro Molina</media:copyright>
	</media:content>
	
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  <item>
    <title>A New Deal for Fragile States</title>
    <description><![CDATA[Today, roughly one-fifth of the world’s population lives in conflict-affected and fragile states, despite vast sums of money spent aiding such states over the last 50 years. Obviously, the way that international and national partners engage such states must change radically.]]></description>
	<comments>http://www.project-syndicate.org/commentary/a-new-deal-for-fragile-states-by-erik-solheim</comments>
	<slash:comments>2</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/a-new-deal-for-fragile-states-by-erik-solheim</guid>
    <link>http://www.project-syndicate.org/commentary/a-new-deal-for-fragile-states-by-erik-solheim</link>
	<pubDate>Thu, 16 May 2013 12:50:12 +0000</pubDate>
	<dc:creator>Erik Solheim</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/bbb050b8dff3da8bed5647bfb9bf7931.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Paul Lachine</media:copyright>
	</media:content>
	
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    <title>The Importance of Doing Business</title>
    <description><![CDATA[There is much speculation that an independent panel currently reviewing the World Bank’s Doing Business project will recommend outsourcing it, removing its country rankings, or even eliminating it altogether. But gutting or cutting the annual report would be a serious mistake.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-world-bank-s-doing-business-report-in-jeopardy-by-ana-palacio</comments>
	<slash:comments>3</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/the-world-bank-s-doing-business-report-in-jeopardy-by-ana-palacio</guid>
    <link>http://www.project-syndicate.org/commentary/the-world-bank-s-doing-business-report-in-jeopardy-by-ana-palacio</link>
	<pubDate>Thu, 16 May 2013 09:00:00 +0000</pubDate>
	<dc:creator>Ana Palacio</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/1bc3e6d26cdb696a5f478b3f14d5d64a.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Dean Rohrer</media:copyright>
	</media:content>
	
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    <title>Green Sovereign Wealth</title>
    <description><![CDATA[Despite the need for increased transparency in sovereign-wealth funds' operations, their value as long-term investors should not be underestimated. By shifting investment toward low-carbon, environmentally friendly infrastructure projects, SWFs could achieve their primary objective: the transfer of wealth to future generations.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-risks-and-benefits-of-sovereign-wealth-funds-by-emmanuel-guerin</comments>
	<slash:comments>0</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/the-risks-and-benefits-of-sovereign-wealth-funds-by-emmanuel-guerin</guid>
    <link>http://www.project-syndicate.org/commentary/the-risks-and-benefits-of-sovereign-wealth-funds-by-emmanuel-guerin</link>
	<pubDate>Mon, 13 May 2013 13:50:12 +0000</pubDate>
	<dc:creator>Emmanuel Guerin</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/9e0be9a258d806088bd97acfe54da205.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Paul Lachine</media:copyright>
	</media:content>
	
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    <title>The Mismeasure of Poverty</title>
    <description><![CDATA[In 2012, outgoing World Bank President Robert Zoellick announced that the goal of halving global poverty relative to its 1990 level had been achieved in 2010 – five years ahead of schedule. But three problems – insufficient survey data, flawed survey execution, and faulty price conversions – undermine the accuracy of such estimates.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-weakness-of-global-poverty-estimates-by-jomo-kwame-sundaram</comments>
	<slash:comments>3</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/the-weakness-of-global-poverty-estimates-by-jomo-kwame-sundaram</guid>
    <link>http://www.project-syndicate.org/commentary/the-weakness-of-global-poverty-estimates-by-jomo-kwame-sundaram</link>
	<pubDate>Fri, 10 May 2013 09:00:00 +0000</pubDate>
	<dc:creator>Jomo Kwame Sundaram</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/ec70273eda0a27482d8a8296d12ac7a6.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Paul Lachine</media:copyright>
	</media:content>
	
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    <title>What Use Are Economists?</title>
    <description><![CDATA[Despite their protests to the contrary, Carmen Reinhart and Kenneth Rogoff have been accused of providing scholarly cover for a set of policies for which there was, in fact, limited supporting evidence. One clear lesson is that we need better rules of engagement between economic researchers and policymakers.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-provisional-nature-of-economic-research-by-dani-rodrik</comments>
	<slash:comments>14</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/the-provisional-nature-of-economic-research-by-dani-rodrik</guid>
    <link>http://www.project-syndicate.org/commentary/the-provisional-nature-of-economic-research-by-dani-rodrik</link>
	<pubDate>Fri, 10 May 2013 09:00:00 +0000</pubDate>
	<dc:creator>Dani Rodrik</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/17d18771f0657c3dfca25c69af25dc27.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Paul Lachine</media:copyright>
	</media:content>
	
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    <title>Why Pay More?</title>
    <description><![CDATA[Anyone who buys a $30,000 watch or a $12,000 handbag is either extraordinarily ignorant or just plain selfish. As Ukraine has shown, the ethical shortcomings of conspicuous consumption are all the more pronounced when the behavior of public officials is involved.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-moral-shortcomings-of-conspicuous-consumption-by-peter-singer</comments>
	<slash:comments>9</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/the-moral-shortcomings-of-conspicuous-consumption-by-peter-singer</guid>
    <link>http://www.project-syndicate.org/commentary/the-moral-shortcomings-of-conspicuous-consumption-by-peter-singer</link>
	<pubDate>Thu, 09 May 2013 09:00:00 +0000</pubDate>
	<dc:creator>Peter Singer</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/6268fad9c63274a9dc9f466f8846fb98.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Paul Lachine</media:copyright>
	</media:content>
	
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    <title>Europe’s Irrelevant Austerity Debate</title>
    <description><![CDATA[The debate about austerity and the cost of high public-debt levels misses a key point: public debt owed to foreigners is different from debt owed to residents. And that distinction is particularly important in the context of the euro crisis, which the evidence confirms is not really about sovereign debt, but about foreign debt.]]></description>
	<comments>http://www.project-syndicate.org/commentary/reinhart-and-rogoff-in-europe-by-daniel-gros</comments>
	<slash:comments>13</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/reinhart-and-rogoff-in-europe-by-daniel-gros</guid>
    <link>http://www.project-syndicate.org/commentary/reinhart-and-rogoff-in-europe-by-daniel-gros</link>
	<pubDate>Wed, 08 May 2013 09:00:00 +0000</pubDate>
	<dc:creator>Daniel Gros</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/1af94fb757383d0867c2113d3a733fc0.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Chris Van Es</media:copyright>
	</media:content>
	
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    <title>A Hacker’s Market?</title>
    <description><![CDATA[Never in the history of written communication could 140 characters have the impact that they can have now, as the recent hacking of the Associated Press's Twitter account revealed. Because few mechanisms can prevent hoaxed tweets, and given powerful incentives to broadcast them, malicious attacks can be expected to proliferate.]]></description>
	<comments>http://www.project-syndicate.org/commentary/financial-markets--inevitable-vulnerability-to-twitter-hoaxes-by-chris-clearfield-and-andr-s-tilcsik</comments>
	<slash:comments>0</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/financial-markets--inevitable-vulnerability-to-twitter-hoaxes-by-chris-clearfield-and-andr-s-tilcsik</guid>
    <link>http://www.project-syndicate.org/commentary/financial-markets--inevitable-vulnerability-to-twitter-hoaxes-by-chris-clearfield-and-andr-s-tilcsik</link>
	<pubDate>Tue, 07 May 2013 13:00:24 +0000</pubDate>
	<dc:creator>Chris Clearfield, et al. </dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/b4198239020d87c5b0885658cf3444b4.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Paul Lachine</media:copyright>
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    <title>The Problem with Poor Countries’ GDP</title>
    <description><![CDATA[Traditionally, one of the guiding factors for development aid has been per capita GDP – the value of goods and services produced by a country in a year divided by the country’s population. Yet GDP may be a very inaccurate indicator in the poorest countries, particularly in Sub-Saharan Africa.]]></description>
	<comments>http://www.project-syndicate.org/commentary/poor-countries-need-more-accurate-gdp-data-by-bill-gates</comments>
	<slash:comments>11</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/poor-countries-need-more-accurate-gdp-data-by-bill-gates</guid>
    <link>http://www.project-syndicate.org/commentary/poor-countries-need-more-accurate-gdp-data-by-bill-gates</link>
	<pubDate>Mon, 06 May 2013 09:00:00 +0000</pubDate>
	<dc:creator>Bill Gates</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/f7456d8c7780b0cee01be76755e24b57.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Paul Lachine</media:copyright>
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    <title>Lives versus Profits</title>
    <description><![CDATA[The US Supreme Court recently began deliberations in a case that will determine whether human genes may be patented. But we already know that permitting gene patents results in inefficiencies – including monopoly profits and a failure to maximize the use of knowledge – that impede the pace of innovation.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-myriad-problems-of-intellectual-property-by-joseph-e--stiglitz</comments>
	<slash:comments>7</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/the-myriad-problems-of-intellectual-property-by-joseph-e--stiglitz</guid>
    <link>http://www.project-syndicate.org/commentary/the-myriad-problems-of-intellectual-property-by-joseph-e--stiglitz</link>
	<pubDate>Mon, 06 May 2013 09:00:00 +0000</pubDate>
	<dc:creator>Joseph E. Stiglitz</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/eef41c9a8e58f8fce3aa2f1350e9fc12.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Paul Lachine</media:copyright>
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    <title>The New Economy of Fealty</title>
    <description><![CDATA[Since the late twentieth century, most employment growth has come in services, particularly personal services – a pattern that looks like a reversal of a previous historical trend. Indeed, the element of personal dependence that many of the new service jobs imply is a throwback to the preindustrial world.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-rise-of-services-and-personal-dependence-by-harold-james</comments>
	<slash:comments>5</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/the-rise-of-services-and-personal-dependence-by-harold-james</guid>
    <link>http://www.project-syndicate.org/commentary/the-rise-of-services-and-personal-dependence-by-harold-james</link>
	<pubDate>Thu, 02 May 2013 09:00:00 +0000</pubDate>
	<dc:creator>Harold James</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/93cfb60ccf6b921a2db43c484c6bc3eb.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Chris Van Es</media:copyright>
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    <title>A New World’s New Development Bank</title>
    <description><![CDATA[The significance of the decision by the BRICS to create a new development bank that they will fund cannot be overemphasized. Emerging markets and developing countries are taking the future into their own hands – at a time when rich countries are muddling through their own self-inflicted problems.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-benefits-of-the-brics-development-bank</comments>
	<slash:comments>5</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/the-benefits-of-the-brics-development-bank</guid>
    <link>http://www.project-syndicate.org/commentary/the-benefits-of-the-brics-development-bank</link>
	<pubDate>Wed, 01 May 2013 09:00:00 +0000</pubDate>
	<dc:creator>Nicholas Stern, et al. </dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/c7a5906cd473eabf8efc600a40a4ad15.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Chris Van Es</media:copyright>
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    <title>A Fateful Mistake</title>
    <description><![CDATA[Adjustment fatigue is setting in, and governments risk losing support if they go much further in the effort to achieve fiscal consolidation. But the recent discrediting of the evidence on which hasty austerity has relied risks undermining the case for fiscal responsibility in the long run.]]></description>
	<comments>http://www.project-syndicate.org/commentary/the-discrediting-of-the-reinhart-rogoff-paper-and-austerity-fatigue-by-jean-pisani-ferry</comments>
	<slash:comments>8</slash:comments>
    <guid isPermaLink="true">http://www.project-syndicate.org/commentary/the-discrediting-of-the-reinhart-rogoff-paper-and-austerity-fatigue-by-jean-pisani-ferry</guid>
    <link>http://www.project-syndicate.org/commentary/the-discrediting-of-the-reinhart-rogoff-paper-and-austerity-fatigue-by-jean-pisani-ferry</link>
	<pubDate>Wed, 01 May 2013 09:00:00 +0000</pubDate>
	<dc:creator>Jean Pisani-Ferry</dc:creator>
	
	<media:content url="http://www.project-syndicate.org/default/library/92429b1741f1b8f3836abdccc9aa0b9f.square.jpg" height="100" width="100" medium="image" type="image/jpeg">
			<media:copyright>Illustration by Paul Lachine</media:copyright>
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