The big mistakes were the adoption of the euro without careful thought about how a single currency would work without a unified government; the disastrous framing of the euro crisis as a morality play brought on by irresponsible southerners; the establishment of free labor mobility among culturally…
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Paul Krugman
Paul Robin Krugman (pronunciation: /ˈkrʊɡmən/ KRUUG-mən; born February 28, 1953) is an American economist, who is currently Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for The New York Times. In 2008, Krugman was awarded the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography. The Prize Committee cited Krugman's work explaining the patterns of international trade and the geographic distribution of economic activity, by examining the effects of economies of scale and of consumer preferences for diverse goods and services. Krugman was previously a professor of economics at MIT, and later at Princeton University. He retired from Princeton in June 2015, and holds the title of professor emeritus there. He also holds the title of Centenary Professor at the London School of Economics, and was President of the Eastern Economic Association in 2010. As of 2016, Research Papers in Economics ranked him as the world's 24th most influential economist based on citations of his work. Krugman is known in academia for his work on international economics (including trade theory, economic geography, and international finance), liquidity traps, and currency crisis. Krugman has written over 20 books, including scholarly works, textbooks, and books for a more general audience and has published over 200 scholarly articles in professional journals and edited volumes. He has also written several hundred columns on economic and political issues for The New York Times, Fortune and Slat
It seems clear that the European project – the whole effort to promote peace and growing political union through economic integration – is in deep, deep trouble.
Well, that was pretty awesome – and I mean that in the worst way. A number of people deserve vast condemnation here, from David Cameron, who may go down in history as the man who risked wrecking Europe and his own nation for the sake of a momentary political advantage, to the seriously evil editors…