Not pynchon. Krugman.

[Kai Frederik Lorentzen]

 > Of course, if no one in power ever takes your advice it is quite hard 
to be proved definitively wrong. There will always be the unknowable 
Krugman counterfactual: in the British case, the bigger deficits that 
were never tried, in the U.S case the bigger stimulus that was never 
tried, in Europe's case the doubling of the inflation target that was 
never tried. Happy the economist whose policy prescriptions are so 
reckless that no one ever puts them to the test.

Except that one country, just lately, /has/ been putting a Krugman 
recommendation to the test. That country has defied the "austerians." It 
has thumbed its nose at the fountainheads of economic orthodoxy. It has 
dared to play chicken with the confidence fairy. It has even told the 
Germans where to get off. And it has done this on the basis of Paul 
Krugman's advice, spelt out when he visited the nation's capital, at the 
government's invitation, in April.

That country is Greece. <

http://www.huffingtonpost.com/niall-ferguson/the-rise-and-fall-of-krugmania-in-the-uk_b_7257236.html

And Krugman did again fly to Athens in June, some days before Tsipras 
called out the referendum. Krugman, too, is responsible for the snafu.

But hey, breaking news (8:47): An agreement, a consensus, the eventual 
rescue of Europe ...

If the Greek government manages to let the necessary laws be legislated 
by the parliament till wednesday, talks for a third program will take place.

Do you believe in magic?


On 12.07.2015 23:10, David Morris wrote:
> Krugman: Can anything pull Europe back from the brink? Word is that 
> Mario Draghi is trying to reintroduce some sanity, that Hollande is 
> finally showing a bit of the pushback against German morality-play 
> economics that he so signally failed to supply in the past. But much 
> of the damage has already been done. Who will ever trust Germany’s 
> good intentions after this?
>
> On Sunday, July 12, 2015, Mark Kohut <mark.kohut at gmail.com 
> <mailto:mark.kohut at gmail.com>> wrote:
>
>     Killing the European Project — Paul Krugman —
>     http://krugman.blogs.nytimes.com/2015/07/12/killing-the-european-project/?smid=tw-share
>     …
>     -
>     Pynchon-l / http://www.waste.org/mail/?listpynchon-l
>

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