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Here on ET we follow the US policy debate too much and the EU one too little. Read the Almunia speech and maybe you'll see why. The European Commission even copies the USian talking points and cliches.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
by Carrie (migeru at eurotrib dot com) on Sat Mar 21st, 2009 at 11:41:53 AM EST

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