Volume LI 2 - 2017
Winners and Losers: Europe and Debt after the Great War and after the Great Recession
Giuseppe Bertola, pp. 121-130
Reviewing views once expressed by J. M. Keynes, and adopting some of their great brevity, persuasive prose, and occasionally cryptic logic, this essay compares the economic and political sources and consequences of the Great War boom and bust in Europe to those of the similar if so far less dramatic income swings and debt experiences of Euro area countries.