N.Y. Times' Paul Krugman says Ireland is the poster boy for
zombie economics  Posted on Monday, December 20, 2010 at 09:21
PM   Recent Posts   submit to reddit  Ireland is the poster boy
for Zombie economics, says Paul Krugman The New York Times
columnist and Nobel Prize winner in economics.  Zombie economics
he says is "the strange triumph of failed ideas. Free-market
fundamentalists have been wrong about everything — yet they now
dominate the political scene more thoroughly than ever."  As
examples he quotes current British Tory chancellor of the
Exchequer “Ireland,” declared George Osborne in 2006, “stands as
a shining example of the art of the possible in long-term
economic policymaking.”  "Whoops. But Mr. Osborne is now
Britain’s top economic official." Krugman says  And he says
Britain is now making the Irish mistake of cutting too severely.
" In his new position, Osborne is’ " setting out to emulate the
austerity policies Ireland implemented after its bubble burst."
he notes  Krugman claims that is a d