This guy got a Nobel Prize?
Quick hit on Paul Krugman's article on the Euro (emphasis mine):
What an idiot. Some people remotely connected make a claim, so the claim must be considered valid, no matter whether it's actually right (as long as it supports his point). I don't know if it makes it better or worse that it's barely relevant to his overall point.
Back in the ’90s, people who were present told me that staff members at the European Commission were initially instructed to prepare reports on the costs and benefits of a single currency — but that after their superiors got a look at some preliminary work, those instructions were altered: they were told to prepare reports just on the benefits. To be fair, when I’ve told that story to others who were senior officials at the time, they’ve disputed that — but whoever’s version is right, the fact that some people were making such a claim captures the spirit of the time.
What an idiot. Some people remotely connected make a claim, so the claim must be considered valid, no matter whether it's actually right (as long as it supports his point). I don't know if it makes it better or worse that it's barely relevant to his overall point.
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