Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Krugman's fundamental difficulty in understanding the real world is that he believes that most goods and services are traded on spot markets, or in (mathematically) "well-behaved" financial systems, which means financial systems that behave like spot markets.

If real economic used spot markets, a Big Mac would not cost the same in Malmö and Haparanda...

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sat Oct 2nd, 2010 at 05:04:27 AM EST
[ Parent ]

Others have rated this comment as follows:


Occasional Series