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Aug 31, 2013

This is funny and why Asia recovered relatively quickly in '98 and Europe has not

Krugman highlights that the NYT blog Economix is the 2nd most influential econ blog in the world - then when you click on the link you discover who is the most.... shocker, huh?!?

Krugman also explains how Asia recovered quicker from the Asian crisis in the late '90's because they had their own currencies while Europe is taking a lot longer to recover. This is because Europe is tied to one common currency so the poorer countries have less flexibility to make their economies more competitive.  This is also a good segue way to Krug's other recent post on how he was a Euro-skeptic from the inception in the early '90's.

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