http://www.forbes.com/sites/markadom...ary-austerity/
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Now, I'm not an economic genius, but that article is ridiculous. It can be summed in this bit:
Or like someone in the comments said:Quote:
Now the practical, policy-related lessons that can be drawn from this, I think, are relatively modest. Estonia and Russia are very different countries with very different economic structures. Estonia is an extremely small, extremely open, and extremely liberal economy, while Russia is a very large, not very open, and not very liberal one: you can’t simply export economic policy from one to the other and expect to receive similar results.
That Mark Adomanis seems like some kind of Russian fanboy.Quote:
Even a dummiest country on this planet could keep it’s books balanced if it has vast natural resources to sell. Nigeria comes to mind.