I was getting annoyed at my radio this morning, as the dulcet-toned pseudo-liberals on NPR called the Greek Government “radical left”. Why is a simple request for rescheduling/partial write-off of debt repayment so radical? It is just basic neo-Keynsian economics. Fact-based and thus liberal, yes, but hardly “left-wing” much less radical.
Krugman explains. And now I understand.