Paul Krugman: They Have Made A Desert, Ireland Edition


 They Have Made A Desert, Ireland Edition, by Paul Krugman, in NY Times:  

And called it a successful example of austerity, of course:

Like that other implausible candidate for role model, Latvia, Ireland has been hailed as a success story — and a challenge to Keynesians like me — when there was never anything that looked like real success and nothing that posed any sort of puzzle. (Even in a Keynesian world, internal devaluation will work in the long run if you can stick to it — but in the long run, well, you know the rest.)

The sad thing here is that textbook Keynesian macro has been a very good guide all through this crisis — but nobody will believe it.

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One Response to Paul Krugman: They Have Made A Desert, Ireland Edition

  1. Pingback: Marimbar e brincadeiras de crianças | Toca do Javali

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