Krugman did make the caveat that Keynsianism works when a country borrows within its own borders. Essentially we borrow from ourselves and not outsiders who will drain the benefits. One hopes the kid who threw the rock was made to pay for the new windows. Also the fact that that the currency was devalued by 50 percent undoubtedly made food imports very expensive and stimulated the farmers. In fact all exports would be more attractive. Works for awhile and sort leading the pack to the bottom of wages of poor countries. Slavery works for some people. Peron was in no way a Keynsian.
Every country can learn from this. Unfortunately the affirmation that governments provide to the inept makes necessary reforms a hard sell.
Krugman did make the caveat that Keynsianism works when a country borrows within its own borders. Essentially we borrow from ourselves and not outsiders who will drain the benefits. One hopes the kid who threw the rock was made to pay for the new windows. Also the fact that that the currency was devalued by 50 percent undoubtedly made food imports very expensive and stimulated the farmers. In fact all exports would be more attractive. Works for awhile and sort leading the pack to the bottom of wages of poor countries. Slavery works for some people. Peron was in no way a Keynsian.