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Paul Krugman: Righteousness killed the economy

Paul Krugman 

Paul Krugman Stop me if you've heard this before: The world economy appears to be stumbling. For a while, things seemed to be looking up, and there was talk about green shoots of recovery. But now growth is stalling, and the spectre of deflation looms. If this story sounds familiar, it should; it has played out repeatedly since 2008. As in previous episodes, the worst news is coming from Europe, but this time there is also a clear slowdown in emerging markets - and there are even warning signs in the United States, despite pretty good job growth at the moment. Why does this keep happening? After ...

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First Published: Mon, October 13 2014. 21:44 IST