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Economics and Politics by Paul Krugman - The Conscience of a Liberal - NYTimes.com
I would say, by the way, that while our skepticism has been pretty well vindicated, the key weaknesses of Europe as a currency area have been somewhat different from what we imagined. Low labor mobility is a problem; but lack of fiscal integration and lack of banking union have been even bigger problems.


Index of Frank's Diaries
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Sat Aug 31st, 2013 at 07:19:22 AM EST
[ Parent ]
Might it be because banking is a blind spot for Krugman and the rest of the neoclassicals?

Finance is the brain [tumour] of the economy
by Migeru (migeru at eurotrib dot com) on Sat Aug 31st, 2013 at 10:09:30 AM EST
[ Parent ]
Resolutely so. Acknowledging the reality of MMT seems tantamount to heresy.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Sep 4th, 2013 at 01:59:36 PM EST
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