[lbo-talk] Reflections on the current crisis 2

Doug Henwood dhenwood at panix.com
Sun Mar 23 05:58:55 PDT 2008


On Mar 23, 2008, at 12:04 AM, Michael Pollak wrote:


> One question. You say the Swedes spent 2% of their GDP fixing their
> banking problem (which would be roughly equal to $300B for the US
> today).
> Krugman, saying he was citing Reinert and Rogoff, put the figure at
> 6%:
>
> http://krugman.blogs.nytimes.com/2008/03/17/forbidden-swedes/

I was wondering about that. I got the 2% figure from Peter Englund's paper (linked to in the piece). I'd read the R&R paper too, but decided to go with the smaller number. I didn't try to reconcile the two for the "quickie" version.

Doug



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