Thursday, January 12, 2012

Trekonomics - The German finance establishment's contribution to the Dismal Science

The term Trekonomics (neologism derived from Star Trek & Economics) was inspired by the article, Germans and Aliens in the New York Times by economist Paul Krugman. In a nutshell Krugman argues that the insistence by German leaders on all EU members producing a budget surplus can only be achieved if we start exporting off-world.

"But the Germans believe that their own experience shows that austerity works: they went through some tough times a decade ago, but they tightened their belts, and all was well in the end.

Not that it will do any good, but it's worth pointing out that Germany's experience can only be generalized if we find some space aliens to trade with, fast."

New York Times

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