What does this mean?
The problem is that the austerity if undermining the banks and the “markets” broadly defined by reducing real GDP growth and destroying the motivation for private households and firms to expand credit within safe parameters.
From the conclusion of this post.
Wow, that's a long post. It'll take me a while to read it. For now, the word smith in me thinks that it should read: "The problem is that the austerity IS undermining the banks and . . .
ReplyDeleteLooks like "if" is a typo. As it stands, it's not a properly structured sentence.
Cheers!
harils
Yea, I agree, change that first IF to IS and the sentence works a lot better.
ReplyDeleteThat's what I get. I jumped from the middle of the post to the end to read his conclusion, and it was gibberish. I had to go back and read the whole post anyway, to figure out what he might be saying.
There re a couple of other typos in there as well.
ReplyDeleteit's an interesting post, and I love his disdain for classical econ.
Cheers!
JzB