Small-country mindset consequences, and other links for the morning

The eurozone’s tragic small-country mindset
FT– You can take the Portuguese or Belgian prime ministers out of their small open economies, but you can’t take the small open economy mindset out of these men.
Questioning Keynes
CNN Money– Too often, forecasts have been wrong. Which makes Keynesian economics harder to follow in today’s modern economy.
The case against the euro– Growth will be at best anaemic. Unemployment will remain high. The potential legacy of having joined the euro is hard times for a generation.
It’s not hard to understand why Asia’s worried about Europe– Recent external shocks from Europe will likely show up Chinese and Philippine trade data in coming months. Doesn’t look good for Asia, especially for those economies like the Philippines and China for which exports provide a robust growth impetus.

Message in a bottle– The Nike outfits worn by the U.S. team as well as Brazil’s are made solely out of bottles, more specifically, bottles from landfills in Japan and Taiwan.
“for the lolz”: 4chan is hacking the attention economy– While the security hackers were attacking the security economy at the center of power and authority in the pre-web days, these attention hackers are highlighting how manipulatable information flows are.
Think gas is too pricey? Think again.
Washington Post– The question isn’t just what a gallon of gas costs. It’s what a gallon of anything that can replace gas costs. Maybe that’s what we should start asking politicians.

Does Japan really have a public debt problem?– Countries with their own central banks do not need to default; they can inflate, instead. Provided they can borrow at long enough maturities and on favourable terms, the amount of inflation needed to eliminate huge debt overhangs is not enormous, provided it is unexpected.
Open. The. Gates.– What immigration can potentially do for American military spending, Social Security expenditures, medical care costs, and technological growth.
Is a college degree still worth it?– Increasingly, the job market has become polarized, with the fastest-growing occupations on either the low end or the high end, often for positions that require more education than a bachelor’s degree.
Does this mean we never leave?– The New York Times reports on a monster find of minerals in Afghanistan, some of them strategic.

You might be population too– Apparently it’s crazy to want our species extinct, but crazy not to want it arbitrarily smaller.
Boldly going nowhere: Nasa ends plan to put man back on moon
The Times– Nasa has begun to wind down construction of the rockets and spacecraft that were to have taken astronauts back to the Moon, effectively dismantling the US human spaceflight programme despite a congressional ban on its doing so.
Are you what you eat?– While people with an unhealthy lifestyle are no more risk-loving than other people, they are more impatient.

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