Re: Krugman on Europe's future

[Peter Dorman <dormanp@xxxxxxxxxxxxxxxxxxx>]

Thanks for posting this--do you have a citation?  K's analysis of the
politics of EMU seems pretty accurate to me.  His crack about the German
miracle, on the other hand, betrays a dogmatic streak that places
ideological rectitude above empirical reality.  (Germany has always had
a highly regulated form of capitalism, and its cumulative record over
the last four decades greatly outshines the US's.)  But this is an
aspect of K's knee-jerk anti-socialism.  (No, Germany is not socialist,
but it possesses institutions that go much further in that direction
than ours do--e.g. codetermination, the ldnder and cooperative banks,
etc.)

What is most impressive, however, is the writing itself.  The guy
definitely has a way with words.  I wish our side(s) could write that
well.

Peter Dorman