tag:blogger.com,1999:blog-3120478448417742445.post6111044178892177518..comments2024-03-24T06:35:14.281+00:00Comments on The Portuguese Economy: P(II)GS: too big to fail.Editorhttp://www.blogger.com/profile/16779405217168307855noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-3120478448417742445.post-1168486393201404942010-06-16T17:11:18.250+01:002010-06-16T17:11:18.250+01:00I'd really like to know if any of my colleague...I'd really like to know if any of my colleagues in this blog questions the net advantages of the Portuguese participation in the EMU.<br />It is a pity that none has joined the debate, which finally may be constructive (it is a repetition of an old debate, held in the early 90s, but now with some more info).<br />(I'm not questioning whether the EMu is an OCA or not; studies pointing either way may be found; I do think Greece should not be a member; but do not think so about Portugal)Manuel Mota Freitas Martinshttps://www.blogger.com/profile/09540588427021304323noreply@blogger.comtag:blogger.com,1999:blog-3120478448417742445.post-92187496685653471232010-06-12T14:44:18.716+01:002010-06-12T14:44:18.716+01:00The inescapable fact remains that, for all the con...The inescapable fact remains that, for all the contortions, analyses, lobotomies or spacecraft explosions over Florida, the euro-zone is not an optimal currency area. If the debate is to stick to economics and economic soundness and leave political gimmickry aside, the conclusion must be that the P(II)GS should never have joined the euro and the sooner they leave it the better for all concerned, including the Germans. It will indeed be painful, but it's a case of abandoning the Rolls-Royce you cannot afford and go back to driving a Vauxhall.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3120478448417742445.post-51509859548555204172010-06-08T22:46:49.602+01:002010-06-08T22:46:49.602+01:00I really canno't understand why is the euro su...I really canno't understand why is the euro such a sacred cow. Can any of these economists enlight me ?Antonio Vicentehttps://www.blogger.com/profile/17198315597554239403noreply@blogger.comtag:blogger.com,1999:blog-3120478448417742445.post-76064719816657670562010-06-02T09:37:34.337+01:002010-06-02T09:37:34.337+01:00Manuel,
You're actually comparing economics t...Manuel,<br /><br />You're actually comparing economics to brain surgery or rocket science? Oh my god...POhttps://www.blogger.com/profile/11378183454198931717noreply@blogger.comtag:blogger.com,1999:blog-3120478448417742445.post-50921916203573750462010-06-02T08:47:27.484+01:002010-06-02T08:47:27.484+01:00If anyone was to participate in a friends' con...If anyone was to participate in a friends' conversation about the brain surgery that one of the group needed to undergo;<br />If anyone was to participate in a cafe conversation about the explosion of the Discovery;<br />(....)<br />My guess is that nobody would dare to make technical suggestions -- say, on how to perform the craniotomy or how to prevent further shuttle explosions.<br />Hence my surprise when I hear and read, everyday, too many (non-expert) people arguing for or against all kind of (difficult) economic problems.Manuel Mota Freitas Martinshttps://www.blogger.com/profile/09540588427021304323noreply@blogger.comtag:blogger.com,1999:blog-3120478448417742445.post-8692551614080195442010-06-02T01:06:31.123+01:002010-06-02T01:06:31.123+01:00Funny that the word "autistic" presents ...Funny that the word "autistic" presents itself in an entirely moralistic post on nothing else than the longbearded notion of state profligacy of those darned southern europeans. I wonder how you would explain the fact that even if public spending in PT were to vanish, said country would still be in the throes of debt.<br />Furthermore, your argument for a decrease in public spending is a) a non sequitur from the first part, where no evidence of public indebtedness being a major driver of whatever, and b) not necessarily consistent with the idea of smart government. Paraphrasing Brad deLong, why oh why do economists disguise moral philosophy as neoclassical macroeconomics? Moral philosophy is good in its own right, no need to present mouldy preconceptions such as "profligacy" - funny how northern surpluses are always silent in these stories - and discipline - not so funny to see economists arguing for a constitutional cap on deficits, thinking that the invisible hand qua market equilibrium must be perfect because the theory says so. <br /><br />And no, I'm not an economist nor do I pretend to be. Just a critical citizen who doesn't swallow every bit of economic wishwash.Anonymoushttps://www.blogger.com/profile/12218172846959330861noreply@blogger.com