Keynsianism is dead in Europe

Keynsianism is dead in Europe

The G-8 and G-20 meetings in Canada were remarkable in historic terms. European governments criticized the United States for being spendthrift. Brazil provided political cover to the US on behalf of the developing countries. This has been a consequence of something truly remarkable happening in Europe. Keynsianism has lost in Europe. There is no political support for it. And Barack Obama got hit in the face with this reality.

Discuss...

Note: Both Spain and Portugal have had Socialist governments for many many years. Also, as nice as this sounds, id like to point out that CALLING a party socialist is rather prejudice. Everyone knows that these socalist called parties are no different from non socialist parties around here. I dunno about the US. Also, im not sure about this, but Greece has a current socialist party, but it was not the cause of the problems. Before them, there used to be another party, all of wich corrupted the government, stole money and assets. They caused Greece to fall, and the current government there is picking up the mess. Same be said here in Portugal, althou ill tell you in on a little secret....Portugal has been in 'crisis' for decades. You all just never noticed it.

Yay! how did i miss this...

Lesse where to begin with the facts

http://epi.3cdn.net/d144a03f5b38f7a137_aqm6b9p0y.pdf

Krugman and DeLong together:

http://krugman.blogs.nytimes.com/2010/07/26/permanently-high-unemployment/

http://delong.typepad.com/sdj/2010/07/ryan-avent-reads-greg-mankiw.html

AND MOST IMPORTANTLY

http://krugman.blogs.nytimes.com/2010/07/24/keynes-in-asia/


This is why giving up on Keynesianism is wrong, morally and economically.