The raging debate over what to do about the deficit is now getting its own lingo.
Mark Thoma, who blogs at Economist’s View, has coined the catchy term “Austerians” for those deficit hawks who are exhorting governments to reduce their debt levels.
So what about the stimulus boosters on the other side? What shall we call them?
A few suggestions:
I think “Austerati” and “Stimulati” captures (a) the celeb economist nature of the two sides (glitterati) and (b) the somewhat mystical nature of the debate (Illuminati). To the extent that this argument really is about the effectiveness of fiscal stimulus, it’s one where the outside world will look on in astonishment, amazed at the ability of economists to reach such differing conclusions on a point so fundamental to their profession.