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Yes..well it is clear that it is not the mean message.. the main messsage: controlling your own currency is importnat.. if you do not do it ayou at the mercy of foreign decisions.. unless Europe is your new home.

It also shows how great crisis always start, the problems with low wages and global competition for some type of work is not there.. this is a problem after the lack of demand is resolved... Although it is true that higher income differences make a large scare more likely.

So two more classes of macro are needed.. why austerity does not work.. and how income isdistributed (together with weatlh) and the implications for demand of workers and inflation (the problem of the zero bound for low inflation).

A pleasure

I therefore claim to show, not how men think in myths, but how myths operate in men's minds without their being aware of the fact. Levi-Strauss, Claude

by kcurie on Fri May 20th, 2011 at 10:15:32 AM EST
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