Nigel Stanley
US economist and Nobel prize winner Paul Krugman has been writing about the UK again. It’s so short, I’m sure he’ll forgive us for quoting it in full:
Oh, my: I missed this, but ran across it when doing some research:
‘Ireland stands as a shining example of the art of the possible in long-term economic policymaking.’
It’s also worth noting that Osborne’s push for austerity now was based, to an important extent, on the widespread belief among conservative commentators that Irish austerity was a smashing success story.
I guess the special relationship remains: in Britain as in America, what we see politically is the survival of the wrongest.”
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Comment made by richard lawyer on Dec 20th 2010 at 4:31 pm:
Given its history of profound wrongness, shouldn’t conservative economic theory be classified as a cult rather than reasoned economic theory?