Doctors used to believe that by draining a patient’s blood they could purge the evil “humors” that were thought to cause disease. In reality, of course, all their bloodletting did was make the patient weaker, and more likely to succumb.H/t to "TODAY’S MUST-READ" @ The Stand.
Fortunately, physicians no longer believe that bleeding the sick will make them healthy. Unfortunately, many of the makers of economic policy still do. And economic bloodletting isn’t just inflicting vast pain; it’s starting to undermine our long-run growth prospects. MORE...
Monday, September 19, 2011
Krugman: Austerity is "The Bleeding Cure" (with video from SNL)
Paul Krugman with video-"When's the last time you've had a leeching?"- (03:01):