Friday, August 15, 2008
Krugman Friday
Today Paul puts forth a frightening proposition. The global economy is at the mercy of the local Know-Nothings. The good doctor puts it better than I do.
Angell was right to describe the belief that conquest pays as a great illusion. But the belief that economic rationality always prevents war is an equally great illusion. And today’s high degree of global economic interdependence, which can be sustained only if all major governments act sensibly, is more fragile than we imagine.Which is a very good reason why the President should be someone whose mouth is hardwired to his brain with fail-safe circuits and not some shoot from the lip septuagenarian.
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