Gonzo Economics
The journalist Hunter S. Thompson popularised a style of journalism that came to be called “gonzo”, operating on the theory that “fiction was the best fact”. If Thompson were still alive today and inclined to cast an eye outside of the USA towards Europe he’d probably be wondering how exactly to make the car crash that is the Eurozone sound like fact.
In fact the history of currency unions is replete with examples of spectacular failures and if the euro experiment does fail it won’t be for lack of prior example. Yet history also shows that collapse is not inevitable, assuming strong leadership and a common purpose. So we’re probably all doomed.
