Thursday, February 2, 2012

The Virtue of Europe's Mistake

The Economist argues that Europe's gigantically mistaken belief in expansionary austerity has at least one virtue: it has persuaded American naysayers to stimulus such as John Cochrane and (not-quite-American) Niall Ferguson that they were wrong about the US stimulus package, although neither man can quite come right out and say "Krugman was right, I was wrong."

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