Wednesday, July 25, 2012

The Magic Solution of Devaluation

The Magic Solution of Devaluation: (July 25, 2012 12:35 PM, by Arnold Kling) Scott Sumner writes, If the Spanish and Greek governments shrank enough to balance their budgets, they'd still have 24% unemployment, if not more. Their economies are hopelessly uncompetitive at the current exchange rate. And if those countries had a huge... (0 COMMENTS)

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