4 replies on “Top Economists: Iceland Did It Right … And Everyone Else Is Doing It Wrong”
They declared bankruptcy. They exploited a law they made to avoid paying their obligations, which they entered into freely.
This may be the most shocking thing I’ve ever read – paul Krugman was right about something?
No, he wasn’t.
I assume you’re talking about how they gaoled the bankers and traders after the financial crash of 2008 rather than propping them up on taxpayer’s money.
It was pretty obvious that letting the fox continue to run the hen-houses was a bad idea, so it’s no surprise that the trueism turned out to be true. We knew this all along.
4 replies on “Top Economists: Iceland Did It Right … And Everyone Else Is Doing It Wrong”
They declared bankruptcy. They exploited a law they made to avoid paying their obligations, which they entered into freely.
This may be the most shocking thing I’ve ever read – paul Krugman was right about something?
No, he wasn’t.
I assume you’re talking about how they gaoled the bankers and traders after the financial crash of 2008 rather than propping them up on taxpayer’s money.
It was pretty obvious that letting the fox continue to run the hen-houses was a bad idea, so it’s no surprise that the trueism turned out to be true. We knew this all along.