Friday, October 14, 2011

Paul Krugman: Has Ireland’s Suffering Paid Off? Not Likely

Ireland triumphs! Or maybe not.

There’s a visible push to claim that Ireland’s recent experience — somewhat better-than-expected growth in the second quarter and a rise in exports — vindicates austerity policies. There was even a new article in The Financial Times recently on export growth in Ireland, trumpeting a rise in pharmaceutical exports.

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