During post-2008 fiscal consolidation, the costs of high public debt were overestimated and fiscal multipliers were underestimated, understating the output costs of austerity.

A korrent — “current”, with a K — is our reading of what someone said: one sentence, drawn from their own words below. People put the same thought in different words; a korrent tries to name the thought they share, so that what several people mean can be set side by side, and followed as it changes.

It is an approximation, and it is ours. The quotes are theirs, word for word, and where the two differ, the quote is the fact. Read more →