Economic Policy

Pensioners march in an anti-austerity rally in Athens, Greece. Photo: Reuters

Austerity frenzy proven to be wrong. So will it be halted?

In this age of information, maths errors can lead to disaster. Nasa's Mars Orbiter crashed because engineers forgot to convert to metric measurements; JPMorgan Chase's "London Whale" venture went bad in part because modellers divided by a sum instead of an average. So, did an Excel coding error destroy the Western world's economies?