The Corner

Neologism and Paragraph of the Week

Favorite neologism of the week: Eurofundamentalism.

That’s from Andrew Stuttaford (but he says that it’s been around on the Internet for a while. So who coined it?)

Favorite paragraph of the week:

His policies are a replay of Takahashi Korekiyo’s magic cure in the early 1930s, when Japan escaped the Great Depression with a triple-barrelled blast of monetary, fiscal, and exchange stimulus, all three working together in synthesis to break the logjam. Mr Korekiyo effectively financed the deficit with printed money until the boom created such a surge of tax revenue that the budget was balanced within three years (he then tried to tighten fiscal policy, cutting military spending, and was shot by army officers).

Ambrose Evans-Pritchard, Daily Telegraph.

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