Paul Krugman’s Tuesday Buzzkill


The Nobel prize-winning economist  writes:

A reader directs me to this interview with John Peet, the Europe editor of The Economist, who declares: “And of the countries that were in trouble, I would say Ireland looks as if it’s the best at the moment because Ireland has implemented very heavy austerity programs, but is now beginning to grow again.”

From Ireland’s Central Statistical Office:

See the return to growth, there at the end? Me neither. To be fair, Peet isn’t alone. The legend of Irish recovery has somehow set in, and nobody on the pro-austerity side seems to feel any need to look at the data, even for a minute, to check whether the legend is true. Amazing.

Austerity Fantasies (Paul Krugman, New York Times)

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