The European Tragedy

Davies, Stephen
September 2012
Freeman: Ideas on Liberty;Sep2012, Vol. 62 Issue 7, p18
Academic Journal
The article offers the author's insights on the crisis in the eurozone which he considers as warning to the U.S. regarding the impact of government profligacy and austerity. He mentions that a Keynesian economic theory which focuses on increasing government spending and widening deficits is the correct response to the economic downturn being experienced in Europe. He says that keeping a single currency policy and scraping the central bank is the least band option to address the crisis.


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