March 1, 2012

Why Germany Embraces Austerity

Derek Scally, Irish Times

AP Photo

AMERICA’S FIRST Nobel Prize winner for economics, the late Paul Samuelson, was fond of saying that God gave economists two eyes and it was up to them to use them. The euro zone crisis is, among other things, an academic argument between two economic traditions, each accusing the other of limited vision while themselves having only one eye open.


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TAGGED: Germany, Eurozone

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