Paul Krugman

Paul Krugman, talking about the decision by European governments and the Senate Republicans to cut spending in the middle of a recession/depression:

So I don't think this is really about Greece, or indeed about any realistic appreciation of the tradeoffs between deficits and jobs. It is, instead, the victory of an orthodoxy that has little to do with rational analysis, whose main tenet is that imposing suffering on other people is how you show leadership in tough times.

And who will pay the...