Re:Paul Krugman: The austerity delusion
by Amezarak on Wednesday April 29, 2015 @02:31PM
(#9460591)
No, it's not a "No True Scotsman" fallacy. Greece, crucially, does not print its own currency and there was no real lender of last resort available at the time.
It's been a trivial exercise for many years to point out that countries with even more debt than Greece are not going into debt crises for those exact reasons, with Japan as the almost canonical example with its still-low interest rates.
It's been a trivial exercise for many years to point out that countries with even more debt than Greece are not going into debt crises for those exact reasons, with Japan as the almost canonical example with its still-low interest rates.