Krugman: Europe Wins

[dewline]

I do agree with the professor on this point. We might argue about the rest of it from now to the Last Trump, but on this one point he's right.

Comments

And democracy matters more

[ed-rex.livejournal.com]

I like Krugman, especially when he's on holiday and really concise.

For my part, a common currency without democracy is a master, not a servant.

Re: And democracy matters more

[dewline.livejournal.com]

To a certain extent - the extent to which it prevents the European nations from going back to regular warfare against each other - that was a desirable goal. Ugly as that is to say and believe. And admit believing. Some will argue - are arguing - that it still is.

And up to a limited extent, they may be right. But there are indeed limits to that.

Re: And democracy matters more

[ed-rex.livejournal.com]

I like the goal. I don't like the methods. And I'm starting to wonder if common currencies in general make a lot of sense. No strong opinion, just wondering; would Newfoundland or Apalachia still be economic basket-cases if they had their own currencies? *Points to Iceland and ponders ...*