Raymond Richman - Jesse Richman - Howard Richman
Richmans' Trade and Taxes Blog
German mercantilism and the European depression
On May 30, John Weeks wrote a great commentary (Why did Europe Lurch right? Because the 'recovery' is a farce) about the current European depression. He explains why the European depression is not about to end and the reason why European voters are turning toward the right.
His graphs are worth looking at. They show just how deeply the Southern European countries are locked in a depression. It is every bit as deep as the Great Depression was in the United States.
The whole piece is worth reading. I especially found his discussion of German mercantilism to be interesting. He wrote:
Followers of our work will note that we similarly attributed the European depression to trade imbalances in our American Thinker commentaries (see Saving Greece Europe and the United States and Deficit Spending Doesn't Work: Balancing Trade Does).
Journal of Economic Literature:
Atlantic Economic Journal: