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HKS in the News May 14, 2012

1. Austerity vs. stimulus debate revived by elections in Europe (Frankel) The Boston Globe

2. A crackdown avoided (Kayyem) The Boston Globe

Austerity vs. stimulus debate revived by elections in Europe

The Boston Globe

May 13

Quoted: Jeffrey Frankel

Topic: Economic austerity measures

After the financial crisis struck the global economy in 2008, the United States and Europe chose different paths to revive their economies. Europeans opted for austerity, cutting budgets, raising taxes, and keeping to tight monetary policies. …

Jeffrey Frankel , an economist at Harvard University, said austerity measures have worked, but usually when combined with currency devaluations. …

But with 17 nations and competing interests involved, Europe can’t so easily devalue the euro, said Frankel, a member of President Clinton’s Council of Economic Advisors. At the same time, since they gave up their national currencies, struggling countries like Greece, Spain, and Ireland don’t have the flexibility to devalue.

For the United States, said Frankel, the answer to its economic problems will ultimately involve a combination of stimulus and austerity. “Right now austerity would hurt the US economy,’’ he said. “But eventually, we need to build a framework to deal with our long-term debt problem, after the economy improves and stabilizes.’’

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A crackdown avoided

The Boston Globe

May 14

Commentary by: Juliette Kayyem, Belfer Center

Topic: Mississippi’s immigration laws

Hattiesburg, Miss. Last November, Republicans finally took control of the House of Representatives here, the final victory of the party’s long Southern strategy. Not since Reconstruction had the GOP controlled every facet of political life. It wasn’t just any ol’ Republicans either; former Governor Haley Barbour is considered a moderate now. Governor Phil Bryant is a creature of the Tea Party. Though this is not a border state, every aspect of political life was aligned to follow in the footsteps of Arizona, Alabama, and Georgia in passing sweeping state laws against illegal immigration.

But something surprising happened in the Magnolia State. While liberals and immigration rights advocates were pinning futile hopes on the Supreme Court invalidating Arizona’s anti-immigrant law, lest other conservative states stampede to pass similar bills, Mississippi conservatives quietly shelved their own version. It now appears that Arizona-type laws are more likely to suffer their demise at the hands of politics rather than judges. …

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Broadcast Notes

Richard Parker, Shorenstein Center

Sky News , May 14

Topic: Greece’s economy

This selection of media appearances is compiled by the Office of Communications and Public Affairs.

To submit an item please email Jane Finn-Foley

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