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kleinbl00  ·  3516 days ago  ·  link  ·    ·  parent  ·  post: Paul Krugman: The Libertarian Fantasy

    briandmyers said that New Zealand is getting by without subsidies. Why assume there will be disastrous booms and busts?

Because the transition was brutal.

Yeah, they recuperated from it but Argentina recuperated from Pinochet, too. A 66% reduction in profits is the kind of thing your average industry doesn't accept with a smile.