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Lesson 3: Low inflation, heterogenous currency union, state-level fiscal policy: Pick any two.

Also learned. See parent comment.

Economics is politics by other means

by Carrie (migeru at eurotrib dot com) on Thu Apr 21st, 2011 at 02:56:27 AM EST
[ Parent ]
The question is, how broadly spread is the lesson? If only the supporters of one pair of the three realize that its a choice, and the supporters of other pairs are not aware that they are being squeezed out when they are conned into supporting the third ... well, then the supporters of the other pairs will get squeezed out by circumstance independent of political balance of power.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Sat Apr 23rd, 2011 at 07:58:42 PM EST
[ Parent ]

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