Thomas Herndon: How a lone grad student became a media sensation by blowing a hole in austerity’s ‘b
Thomas Herndon: How a lone grad student became a media sensation by blowing a hole in austerity’s ‘bible’
Grad student Thomas Herndon is a wanted man.
European media outlets are after him. He’s been profiled by New York magazine, the Washington Post and featured on MSNBC. New York Times Nobel Prize-winning economist Paul Krugman is singing his praises and Stephen Colbert referred to him as the “grad student who had fiscal conservatives’ panties in an economic bunch.”
Herndon became an instant celebrity in the nerdy world of global economics almost overnight when he found some whopping errors in a paper that is often referenced as the “bible” for austerity. His findings are causing influential thinkers, conservative politicians and bankers to rethink harsh economic policies imposed on some of Europe’s most indebted and struggling states.
With all the attention, Herndon can barely get his homework done.
http://www.thestar.com/news/world/2013/05/03/austerity_paper_by_carmen_reinhart_and_kenneth_rogoff_wrong_says_university_of_massachusetts_grad_student_thomas_herndon.html
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