With the Europocalypse stumbling slouching (thanks Michael!) towards Bethlehem Athens to be born, some commentators have given up on Greece entirely and are looking towards the shaky periphery economies of Spain, Ireland, Italy, and Portugal, hoping that if they only build a Maginot-like line of financial fortifications there they’ll be able to hold off the Ger… wow, that metaphor got bloodthirsty in a hurry. Some of those commentators will tell you that only fiscal stimulus, and in great amounts, can serve to kick-start the periphery’s economies and permit them to shake off the Great Recession.
Tyler Cowen suggests otherwise:
If you put together Keynesian economics and public choice theory, you get a very nice and indeed downright spacious airport in Santiago de Compostela. More infrastructure here will not jump start growth.
Maybe they can build high-speed rail instead.
With the Europocalypse stumbling towards
BethlehemAthens to be born…*AHEM* “slouches” *KAFF*
Oh, excuse me. I have this terrible cough. ;)
Fixed. That’s what I get for going from memory rather than using the Google.