Ireland’s economic recovery an illusion says NY Times Krugman
Says Republican right wing economists have got Irish message all wrong
New York Times columnist Paul Krugman has called Ireland’s recovery by cutting jobs and spending largely an illusion.
In his column he stated that the right wing in America had trumpeted Ireland as their poster boy for harsh austerity policies that cut government spending and employment and balanced the budget.
However, he claimed, such claims had been revealed as false.
“They should have known better even at the time: the alleged historical examples of 'expansionary austerity' they used to make their case had already been thoroughly debunked. And there was also the embarrassing fact that many on the right had prematurely declared Ireland a success story, demonstrating the virtues of spending cuts, in mid-2010, only to see the Irish slump deepen and whatever confidence investors might have felt evaporate.
Thatcher considered pulling out of Northern Ireland new documents show
“Amazingly, by the way, it happened all over again this year. There were widespread proclamations that Ireland had turned the corner, proving that austerity works — and then the numbers came in, and they were as dismal as before." Krugman wrote.
Krugman says the GOP and Ireland are missing the message of economist John Maynard Keynes who wrote “The boom, not the slump, is the right time for austerity at the Treasury.”
Krugman stated “So declared John Maynard Keynes in 1937, even as F.D.R. was about to prove him right by trying to balance the budget too soon, sending the United States economy — which had been steadily recovering up to that point — into a severe recession. Slashing government spending in a depressed economy depresses the economy further; austerity should wait until a strong recovery is well under way.”
- The New York Times questions Ireland’s highly-p
- Gay wedding cakes latest target of anti-gay...
- Bah! Humbug! The ten worst things about Christm
- Spanish judge slams Ryanair’s sexist air...
- Racist incidents in Ireland up by 85 percent...
- No Irish prosecution for man named as world’s...
- Offensive NFL sign outside restaurant just...
- Ireland crowned “Top Tourist Destination”...
- Irish radio presenter suspended after anti-Isra
- How the Irish celebrate Christmas has changed...
To be fair, most American words and slang came FROM Ireland to begin with. I plan to visit Ireland and learn as much as possible. Can't wait.New Northern Ireland flag is not an option, loyalists tell Richard Haass
I think we have enough flags in Ireland as it is.Racist incidents in Ireland up by 85 percent says Immigrant Council
@Chuck: My point is that immigrants who are willing to work for low wages are not to be demonised but rather be pitied and/or admired. It's the greedyHow Christmas was in my father’s time
molliebawn, many many kids in rural Ireland used to share shoes or only wore them for special occasions so as not to ruin them or wear them out too fa