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But the shoddy economic model based on low wages and mediocre technology was never abandoned, as the real-estate bubble shows. The Spanish political economy is unable to conceive of other activities than bricklaying.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Sat Feb 18th, 2012 at 05:05:59 AM EST
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