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Alberto Mingardi on Europe’s “Hamiltonian moment”

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I thought this was quite perceptive: In short, we see a profound institutional transformation of the nature of the Union, with the main aim of kicking the can down the road. It is profoundly paradoxical that Italians are so happy about that. Italians have evidence in the South of their country that showering a territory with aid won’t do much for economic development. And yet they seem determined to become, for the whole of Europe, what the Mezzogiorno is for Italy. Tags:

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I thought this was quite perceptive:

In short, we see a profound institutional transformation of the nature of the Union, with the main aim of kicking the can down the road. It is profoundly paradoxical that Italians are so happy about that. Italians have evidence in the South of their country that showering a territory with aid won’t do much for economic development. And yet they seem determined to become, for the whole of Europe, what the Mezzogiorno is for Italy.


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Scott Sumner
Scott B. Sumner is Research Fellow at the Independent Institute, the Director of the Program on Monetary Policy at the Mercatus Center at George Mason University and an economist who teaches at Bentley University in Waltham, Massachusetts. His economics blog, The Money Illusion, popularized the idea of nominal GDP targeting, which says that the Fed should target nominal GDP—i.e., real GDP growth plus the rate of inflation—to better "induce the correct level of business investment".

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