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Estonia and Austerity: Another Exploding Cigar for Paul Krugman

Jaime41 Wrote: Jun 08, 2012 1:35 PM
As an academic, what krugman says is laboratory theory not put to the test in real world conditions. Estonia has pulled of an economic turnaround that threatens krugman's lab simulations and computer models, all of which function in the absence of actual human behavior. His ego is the problem, with the nobel weighing too heavily on his brain. Has krugman ever run a business or country, other than his massive mcmansion?

I have great fondness for Estonia, in part because it was the first post-communist nation to adopt the flat tax, but also because of the country’s remarkable scenery.

Most recently, though, I’ve been bragging about Estonia (along with Latvia and Lithuania, the other two Baltic nations) for implementing genuine spending cuts. I’ve argued that Estonia is showing how a government can reignite growth by

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