Much like the the last time I disagreed with Krugman, disagreement is of the “yes, but” variety. The last time, he was telling off austerity, but I doubt he had in mind economies in which (shockingly wasteful) state spending reaches 54% of GDP. This is taxes and spending on a very long list of things like the 42 architects employed for 30 years -with regular pay hikes and promotions- to build dams.
Krugman Is Wrong: Why Cyprus Leaving The Euro Would Be A Disaster
Michalis Persianis, Business Insider
Fri, 03/29/2013 - 6:44am
Topics: i disagreed gdp this cypexit euro well vermont while fdi summer british ndash;egypt israel turkey greece central bank&rsquo cypriots money game twitter facebook i krugman gdp cyprus years currency hotels concerns doubt hand real loans goods story dams slug growth easy estate reflects total fact
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