tag:blogger.com,1999:blog-5882645467378797266.post6030232390663164884..comments2023-07-17T11:55:51.363+02:00Comments on ObservingGreece: Parallels between Greece and the Weimar Republic, after all?kleinguthttp://www.blogger.com/profile/12491174042954678023noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5882645467378797266.post-39807522179089225712013-01-24T19:07:36.197+01:002013-01-24T19:07:36.197+01:00There is one thing that makes any comparison with ... There is one thing that makes any comparison with the Weimar republic blood curdling: the fact that, like Germany in the 20's, Greece is full of men with extensive military experience. In conditions like this things can go badly wrong, pretty fast.See Iraq as a modern example.So delicate political management is required. <br /> As to economic analysis about Weimar I agree with the basic position of Prof. Ritschl. Willingness to pay is paramount. Basically we have the Laffer curve:replace taxation revenue with reparations and we have the same analysis. However from then on I depart with most, if not all, economic analysis. In any system, whether our audio amplifier or an economy, powerful inputs(harsh treatments in the article)tend to force the system into unpredictable directions (political instability in countries,screeching or blow ups and fires in audio amplifiers) from which it may be impossible to return easily. It requires the power of divination to make reliable predictions for such matters. The last economist that could do such things reliably was Keynes. I have serious difficulty believing any other economist, although I think Prof. Ritschl analysis is better on the reparation subject.TheAthensdognoreply@blogger.com