U.S. history key to solving crisis, Nobel laureates sayBreaking News
The winners of this year’s Nobel prize in economics said yesterday that the eurozone crisis is mainly a political issue, not an economic one.
New York University’s Thomas Sargent, who with Princeton University colleague Christopher Sims captured the annual prize for economics, said the founding of the United States shows what the issues and solutions are.
“There are no new issues in economic theory with Europe and the euro... the difficult thing is the politics,” Sargent told a news conference in Princeton. “In the 1780s, the United States is a basket case,” he added, with 13 sovereign governments, each of which could raise taxes and print money.
In contrast, the nation had a very weak center, not having yet established a central bank or gained taxing power....
comments powered by Disqus
- Rubio Surges Into Second In New Hampshire
- Branstad Says Cruz Ran ‘Unethical’ Campaign
- Christie Highlights Santorum’s Endorsement of Rubio
- Portman Comes Out Against Trade Deal
- Megyn Kelly Gets a Book Deal
- A Big List of the Bad Things Clinton Has Done
- An Unambiguous Sign Sanders Won Last Night’s Debate
- Still Friends at the End
- Quote of the Day
- Trump Still Leads as Clinton Slips
- Clinton Can’t Shake Image as Wall Street’s Friend
- Maddow Doesn’t See Sanders Winning
- Why Does the Media Still Shield Chelsea Clinton?
- Bush Jokes His Mother May Have Abused Him
- Rubio Closes the Gap in New Hampshire
- Transcribed Document: Soviet Politburo Discussed CIA Billion Dollar Spy Adolf Tolkachev
- Pentagon withholds Iraq War photos showing detainee abuse
- These Rebels Have Amassed A Library From Syria’s Ruins
- Was 1916 fire at Canadian Parliament set by German saboteur?
- United Nations Calls On U.S. To Pay African Americans Reparations For Slavery
- Juan Cole says America’s inclination to turn to the military started with Manifest Destiny
- History Jobs Drop
- Paul Krugman gives credence to Robert J. Gordon's pessimism about American economic growth
- Harvard President Drew Faust Condemns Free Tuition Proposal from Outsider Overseers Ticket
- Andrew Roberts says Trump is the Mussolini of America with double the vulgarity