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Selfishness Underlies the Shutdown, At Home and Abroad
Americans aren’t the only ones talking about government shutdown this week. Former Italian Prime Minister Silvio Berlusconi almost collapsed Italy’s government on Wednesday by threatening…
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Europe’s Continued Stagnation Is Not Surprising, Given Lack of Reform
The Guardian reports that Italy’s record-long economic slump has continued for another quarter. This isn’t much of a surprise given Prime Minister Enrico Letta’s…
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The HuffPo’s Sloppy Austerity Analysis
Mark Gongloff, a writer for the Huffington Post, claims to show “The Complete Failure of Austerity, In 1 Chart.” Wow! Either he has found…
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Are Markets Rational When It Comes to Economic Fundamentals?
We hear frequently that financial markets thrive on irrational fears. That they are wrong to be wary of unreformed economies and that central banks are…
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Austerity Means Cuts, Not More Spending
Despite its frequent use through the media and in political debate, few journalists and politicians actually use the term “austerity” correctly. But Cypriot Finance Minister…
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New Study Dispels Myths of European Austerity
Cries throughout the media of “savage austerity” notwithstanding, only a handful of European countries have actually implemented austerity in the true sense of the term:…