Krugman is correct that not having a sovereign currency is a risk and that Scotland would be far better off recovering all aspects of sovereignty, including its once sovereign currency. That is politically impossible in Scotland (as it is in Ecuador as I have explained previously).
What Krugman does not explain, however, is that Scotland already lacks a sovereign currency because it lacks sovereignty and is part of a “union” in which it is a small, permanent, and often scorned minority. Regardless of the vote on independence Scotland will lack a sovereign currency. The English have a sovereign currency, the Pound, and they have had at all times under the “Union” the votes to set the UK’s economic and currency policies. Scotland was helpless to prevent the insane austerity that crippled Scotland’s recovery from the Great Recession and forced it back into a gratuitous second recession.
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I have not been following the situation in Scotland at all, but any time Bill Black takes Paul Krugman to task, it is worth reading.
Of course, I suppose I have put up a spoiler as the quote. In the article Black tantalizes with hints as to what is wrong with what Krugman says. It is the anticipation of waiting for him to actually state the case that makes the article such a good read.
Is it really more important to watch football than it is to vote in the primary? This primary has people who want to curb domestic violence. Voting for them might be better than watching the next 16 football games.
I cannot judge a woman’s reasons for defending her abuser. However, society cannot allow it’s safety to be compromised by the victim’s decisions.
The turnout of voters between 7AM and 9AM was abysmal. I also found out that in order for OSV to allow us to hold the Sturbridge elections at their facilities, we must give up certain of our free speech rights. These are the very kind of limits struck down by the recent Supreme Court decision on another Massachusetts law that imposed buffer zones inside which people could not exercise their free speech.
I think Sturbridge needs to find another place to hold its elections. I also think that ordinary citizens ought to have as many free speech rights as abortion protesters now have. Are abortion protesters a new protected class that has more rights than I do?