America Isn’t a Corporation – NYTimes.com

English: Jeff Madrick, Paul Krugman and Robin ...

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This article by Paul Krugman, the Nobel winning liberal economist in his blog in the New York Times is on my must read list! 

America Isn’t a Corporation – NYTimes.com.

It truly amazes me the number of people who think that countries are the same as big businesses. It’s fundamentally an erroneous assumption. For me it’s verging on madness that this assumption underpins the whole “austerity debate” damaging countries like Italy, Spain and the UK – the paradox is that Germany benefits from preaching austerity!

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