Austerity plans have worked to improve economic conditions in the Baltic states of Estonia, Latvia, and Lithuania. But don't worry, no one will act like that matters while whining for more debt-fueled government spending in the Eurozone and the US.
posted by Michael Wotka @ 6:15 PM
2 Comments:
At August 31, 2012 11:13 AM ,
My myself said...
Do you really think most Americans can place those on a map. Most are not global. One must understand how information is Directed, before whining about lack of coverage of the silly Baltic states
At September 01, 2012 2:40 PM ,
Michael Wotka said...
That is why I have posted this here, to increase exposure to this idea. I also understand the whole economies of scale argument. But who's to say there aren't some strategies they used that can be applied on a larger scale. And the bigger point is that austerity has worked to stimulate growth, which you never seem to hear any economist saying. It would be better if in Europe, we had several struggling states take the tack of austerity, like say Spain and Portugal, while leaving Italy and Greece to keep spending and racking up debt, and see who comes out ahead in a decade.
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