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a media service provided by New Statesman A digest of all today’s essential comment and opinion TODAY'S SUMMARY Is this the greatest macro-economic mistake in a century? 19 October 2010 Labour faces a difficult dilemma on spending cuts, says Steve Richards in the Independent - what makes the party distinctive is its support for tax rises, which could pose problems at the next election. Conversely, in the Times, Rachel Sylvester sees electoral trouble ahead for the Conservatives, unless they manage to placate the "squeezed middle". Meanwhile, in the Financial Times, Joseph Stiglitz warns that pursuing austerity in the hope that monetary policy can undo any untoward effects is a serious error. David Blanchflower concurs in the Guardian, arguing that the austerity package is likely to turn out to be the greatest macro-economic mistake in a century. Finally, in the Washington Post, Fareed Zakaria notes that the fall of the North Korean regime could cause serious tension between China and the US. CATEGORIES > UK Politics > International Politics > Economics & Business > Security & Defence > Environment > Science & Technology > Culture, Media & Sport > Health, Family & Society > Education > Human Rights, Law, Justice   If you would rather not receive this email, please unsubscribe from the list. CommentPlus is a Data Controller for the purposes of the Data Protection Act 1998. ©CommentPlus 2010. You are receiving this newsletter because you are a valued subscriber to New Statesman. Your email address has not been, and will not be, given to third parties.