http://www.washingtonpost.com/opinions/the-speed-read-paul-krugmans-end-this-depression-now/2012/05/04/gIQALJl31T_story.html The governments should finally start spending, Nobel laureate in economics Paul Krugman recommends in his new book End This Depression Now, where he sharply criticizes the austerity programs. So let's look a bit closer.
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Success of Spending: US.
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I do think it'll be a disaster in Greece's case, yes, but saying "austerity has failed in Greece" is a bit like putting the cart in front of the horse. Or heating the frying pan before you've even caught the fish. Etc etc etc other stupid metaphors. :-)
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Poul Thomsen, a senior International Monetary Fund official who oversees the organisation's mission in Greece, also insists that, contrary to popular belief, Athens has achieved a lot since the eruption of the debt crisis in December 2009 ( ... )
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