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True. It will work sometimes and in some places. Yet even in Greece it took a peculiar electoral system and it was quite close. How could that be enough?
by oliver on Sun Jul 22nd, 2012 at 04:12:02 AM EST
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No, in Greece the peculiar electoral system was what allowed the Troika parties to govern nonetheless by giving ND 50 extra seats, it wasn't what allowed PASOK to implode.

If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa
by Migeru (migeru at eurotrib dot com) on Sun Jul 22nd, 2012 at 04:58:17 AM EST
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Wiemarize a country sufficiently and it will discard the gold standard. One way or another. The details will depend on the idiosyncrasies of the country in question, but discarding the gold standard is a constant.

This is the second most consistent historical experience in economics (the first one being that no, this time is not different).

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Jul 23rd, 2012 at 03:23:25 AM EST
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