So, I pick up a copy of Friday's NYT in the bin at Starbucks. I read Paul Krugman's column. He says the debate is over between these two factions on how best to deal with recovering from a recession:
Keynesians... pump priming, govt spending, don't worry about deficits. Govt must create jobs.
Austerians ... cut spending, don't increase taxes, let the market work and it will naturally lead us out of the recession.
Krugman says the overwhelming evidence proves the Keynesians are right and the Austerians wrong.
THEN, in the same issue, the NYT has a graphic of EU countries and how well they are handling the recession. They list the following countries as being the most successful in terms of returning to economic growth:
Ireland Poland Romania Estonia Latvia Lithuania Slovakia
Now, I was under the impression that those countries went the austerity route. Can someone help me out with this?