> On 11/5/2010 2:19 PM, Angelus Novus wrote:
>
> Hahaha, how many people in the darkest Bush years ever thought this would
>> be an
>> actual constellation of forces?
>>
>
> But this has been true and well-known for years. Jean-Paul Fitoussi and the
> other establishment Keynesians at the French forecasting institute (OFCE)
> have been comparing US macropolicy favorably with Europe's since the early
> 80's.
>
> What I'd like to learn from you, since I don't read German, is why
> Germany's unique political/economic culture is so exceptionally hardline
> about inflation and rigor. The cliche is that it's bad memories of Weimar
> but that sounds a little too pat to me.
>
My preexisting bias would be to say (for Europe in general, not Germany in particular) that there are more spillover effects for a bunch of medium-sized countries than for a single large country. But that produces the wrong prediction for the Kraut response to American monetary expansion. So, uh, no idea.