Professor Krugman writes: Suppose that for some reason you decided to start hitting yourself in the head, repeatedly, with a baseball bat. Youd feel pretty bad. Correspondingly, youd probably feel a lot better if and when you finally stopped. What would that improvement in your condition tell you? It certainly wouldnt imply that hitting yourself in the head was a good idea. It would, however, be an indication that the pain you were experiencing wasnt a reflection of anything fundamentally wrong with your health. Your head wasnt hurting because you were sick; it was hurting because you kept hitting it with that baseball bat. And now you understand the basics of what has been happening to several major economies, including the United States, over the past few years. In fact, you understand these basics better than many politicians and commentators. pennlive/opinion/2015/01/krugman_us_economic_rebound_pu.html
Posted on: Thu, 01 Jan 2015 23:41:11 +0000
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