Thomas Herndon: Difference between revisions
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{{distinguish|Thomas H. Herndon}} |
{{distinguish|Thomas H. Herndon}} |
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'''Thomas Herndon''' (born February 25, 1985<ref>[https://www.facebook.com/herndonthomas/about Facebook]</ref>) is |
'''Thomas Herndon''' (born February 25, 1985<ref>[https://www.facebook.com/herndonthomas/about Facebook]</ref>) is an LRM graduate student in economics at the [[University of Massachusetts Amherst]], known for successfully discrediting "[[Growth in a time of debt]]", a widely-used Harvard academic paper supporting the [[austerity]] policies implemented by governments in Europe and North America in the early 21st century. His research concluded these measures may not have been necessary.<ref>{{cite news|url=http://www.bbc.co.uk/news/business-22197958|title=Doubt cast on research supporting austerity|work=BBC News|date=19 April 2013|accessdate=19 April 2013|quote=The new research suggests that austerity measures may not have been necessary}}</ref> |
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Herndon proved the Harvard paper contained multiple errors, provoking widespread international interest and embarrassment for austerity policymakers.<ref>{{cite news|url=http://ibnlive.in.com/news/how-thomas-herndon-a-student-took-on-harvard-economists-and-won/386213-2.html|title=How Thomas Herndon, a student, took on Harvard economists and won|work=IBN Live|date=18 April 2013|accessdate=18 April 2013}}</ref><ref>{{cite news|first=Ruth|last=Alexander|url=http://www.bbc.co.uk/news/magazine-22223190|title=Reinhart, Rogoff... and Herndon: The student who caught out the profs of austerity|work=BBC News|date=19 April 2013|accessdate=19 April 2013}}</ref> The discredited Harvard paper was also frequently cited during the [[United States presidential election, 2012|2012 U.S. presidential election campaign]].<ref>{{cite news|first=Pete|last=Evans|url=http://www.cbc.ca/news/business/story/2013/04/17/business-austerity-rogoff-reinhart.html|title=Key pro-austerity study based on incorrect math: Holes poked in analysis that claims high debt loads cause economies to shrink|work=CBC News|date=17 April 2013|accessdate=17 April 2013}}</ref> |
Herndon proved the Harvard paper contained multiple errors, provoking widespread international interest and embarrassment for austerity policymakers.<ref>{{cite news|url=http://ibnlive.in.com/news/how-thomas-herndon-a-student-took-on-harvard-economists-and-won/386213-2.html|title=How Thomas Herndon, a student, took on Harvard economists and won|work=IBN Live|date=18 April 2013|accessdate=18 April 2013}}</ref><ref>{{cite news|first=Ruth|last=Alexander|url=http://www.bbc.co.uk/news/magazine-22223190|title=Reinhart, Rogoff... and Herndon: The student who caught out the profs of austerity|work=BBC News|date=19 April 2013|accessdate=19 April 2013}}</ref> The discredited Harvard paper was also frequently cited during the [[United States presidential election, 2012|2012 U.S. presidential election campaign]].<ref>{{cite news|first=Pete|last=Evans|url=http://www.cbc.ca/news/business/story/2013/04/17/business-austerity-rogoff-reinhart.html|title=Key pro-austerity study based on incorrect math: Holes poked in analysis that claims high debt loads cause economies to shrink|work=CBC News|date=17 April 2013|accessdate=17 April 2013}}</ref> |
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Revision as of 06:07, 26 April 2013
Thomas Herndon (born February 25, 1985[1]) is an LRM graduate student in economics at the University of Massachusetts Amherst, known for successfully discrediting "Growth in a time of debt", a widely-used Harvard academic paper supporting the austerity policies implemented by governments in Europe and North America in the early 21st century. His research concluded these measures may not have been necessary.[2]
Herndon proved the Harvard paper contained multiple errors, provoking widespread international interest and embarrassment for austerity policymakers.[3][4] The discredited Harvard paper was also frequently cited during the 2012 U.S. presidential election campaign.[5]
The findings have been described as "shocking" and as having rocked the economics world, with publications such as The Washington Post having for several years subscribed to the discredited Harvard paper as an "economic consensus view."[6][7] The New York Magazine wrote that Herndon "just used part of his spring semester to shake the intellectual foundation of the global austerity movement."[8]
References
- ^ "Doubt cast on research supporting austerity". BBC News. 19 April 2013. Retrieved 19 April 2013.
The new research suggests that austerity measures may not have been necessary
- ^ "How Thomas Herndon, a student, took on Harvard economists and won". IBN Live. 18 April 2013. Retrieved 18 April 2013.
- ^ Alexander, Ruth (19 April 2013). "Reinhart, Rogoff... and Herndon: The student who caught out the profs of austerity". BBC News. Retrieved 19 April 2013.
- ^ Evans, Pete (17 April 2013). "Key pro-austerity study based on incorrect math: Holes poked in analysis that claims high debt loads cause economies to shrink". CBC News. Retrieved 17 April 2013.
- ^ Konczal, Mike (16 April 2013). "Shocking Paper Claims That Microsoft Excel Coding Error Is Behind The Reinhart-Rogoff Study On Debt". Businessinsider. Retrieved 16 April 2013.
- ^ Parnass, Larry (18 April 2013). "UMass graduate student Thomas Herndon rocks economics world with class project on debt, growth". Gazettenet. Retrieved 18 April 2013.
- ^ Roose, Kevin (18 April 2013). "Meet the 28-Year-Old Grad Student Who Just Shook the Global Austerity Movement". New York Magazine. Retrieved 18 April 2013.