From reading his blog you'll also know that:
- Spain had surpluses and was lowering public debt before the crisis
- The catastrophe that austerity caused and how the idea was very bad in the first place
- How the crisis was made worse by the 'euro straightjacket' (ECB tight money policy).
- How the euro caused trade deficits in the southern countries that were compensated with German and French capital.
The weird thing is - its not even unorthodox, unconventional economics. Its the basics that everyone studies, but no one remembers.
http://krugman.blogs.nytimes.com/2011/12/09/slow-learners/
From reading his blog you'll also know that: - Spain had surpluses and was lowering public debt before the crisis - The catastrophe that austerity caused and how the idea was very bad in the first place - How the crisis was made worse by the 'euro straightjacket' (ECB tight money policy). - How the euro caused trade deficits in the southern countries that were compensated with German and French capital.
The weird thing is - its not even unorthodox, unconventional economics. Its the basics that everyone studies, but no one remembers.