Economics, Literature and Scepticism

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I am a PhD student in Economics. I am originally from South Africa and plan to return there after my PhD. I completed my M. Comm in Economics and my MA In Creative Writing (Poetry) at the University of Cape Town, where I worked as a lecturer before starting my PhD.

Tuesday, October 14, 2008

Maybe I was Wrong

Posted by Simon Halliday | Tuesday, October 14, 2008 | Category: |

At least for Iceland, the import-dependent country of 320 000 inhabitants: the Icelandic currency, the krona, has depreciated so dramatically while its three main banks went bust that imports have frozen up because foreign currency has become unavailable.  Markets are clearing, not in the economic sense, but in the sense that they are really drying up of goods. It makes the optimist in me worry.

See the Bloomberg article here

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