Lectura seminario Intro. economía

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ƌŝƐŝƐ ;ϭϲͿ͗ ŶƚĞƌƌĂƌ Ă <ĞLJŶĞƐ ƉĞƌ Ğů yĂǀŝĞƌ ^ĂůĂ DĂƌƚŝŶ Ğů ĚŝŵĂƌƚƐ͕ ϭϱ ͬ ĚĞƐĞŵďƌĞ ͬ ϮϬϬϵ Ă ůĞƐ Ϯϭ͗ϱϬ hŶĂ ĚĞ ůĂƐ ĨƌĂƐĞƐ ŵĄƐ ĂƌĐŚŝͲƌĞƉĞƚŝĚĂƐ ĚĞů ĞĐŽŶŽŵŝƐƚĂ ŵĄƐ ĨĂŵŽƐŽ ĚĞů ƐŝŐůŽ yy͕ Ğů ďƌŝƚĄŶŝĐŽ :ŽŚŶ DĂLJŶĂƌĚ <ĞLJŶĞƐ͕ ĞƐ͗ ͞ Ŷ Ğů ůĂƌŐŽ ƉůĂnjŽ͕ ƚŽĚŽƐ ĞƐƚĂƌĞŵŽƐ ŵƵĞƌƚŽƐ͘͟ ŽŶ ĞůůŽ͕ <ĞLJŶĞƐ ƋƵĞƌşĂ ĚĞĐŝƌ ƋƵĞ ůĂƐ ƉŽůşƚŝĐĂƐ ĞĐŽŶſŵŝĐĂƐ ĚĞďşĂŶ ĐĞŶƚƌĂƌƐĞ ĞŶ ůŽ ƋƵĞ ƐƵĐĞĚĞ ĞŶ Ğů ƉƌĞƐĞŶƚĞ Ğ ŝŐŶŽƌĂƌ ƐƵƐ ĞĨĞĐƚŽƐ ĨƵƚƵƌŽƐ͘ WŽƌ ĞƐŽ͕ ůĂ ƌĞĐŽŵĞŶĚĂĐŝſŶ ͞ĞƐƚƌĞůůĂ͟ ĚĞ <ĞLJŶĞƐ ƉĂƌĂ ĂĐĂďĂƌ ĐŽŶ ůĂ ŐƌĂŶ ĚĞƉƌĞƐŝſŶ ĚĞ ůŽƐ ĂŹŽƐ ƚƌĞŝŶƚĂ ĨƵĞ Ğů ĂƵŵĞŶƚŽ ĚĞů ŐĂƐƚŽ ƉƷďůŝĐŽ ĨŝŶĂŶĐŝĂĚŽ ĐŽŶ ĚĞƵĚĂ͘ ^Ƶ ĂƌŐƵŵĞŶƚŽ͗ Ğů ĚŝŶĞƌŽ ƋƵĞ Ğů ŐŽďŝĞƌŶŽ ŐĂƐƚĂďĂ ƚĞŶşĂ ĞĨĞĐƚŽƐ ŝŶŵĞĚŝĂƚŽƐ ƐŽďƌĞ ůĂ ĚĞŵĂŶĚĂ ŵŝĞŶƚƌĂƐ ƋƵĞ ůĂ ĚĞƵĚĂ ŐĞŶĞƌĂĚĂ ŶŽ ƚĞŶĚƌşĂ ĐŽŶƐĞĐƵĞŶĐŝĂƐ ŶĞŐĂƚŝǀĂƐ ŚĂƐƚĂ ƵŶ ĨƵƚƵƌŽ ůĞũĂŶŽ͘ WĞƌŽ ĞƐŽ ŶŽ ĞƌĂ ƉƌŽďůĞŵĂ ƉŽƌƋƵĞ͕ ƉĂƌĂ ĞŶƚŽŶĐĞƐ͕ ͞ƚŽĚŽƐ ĞƐƚĂƌşĂŵŽƐ ŵƵĞƌƚŽƐ͘͟ ƵƌĂŶƚĞ ŵƵĐŚŽ ƚŝĞŵƉŽ͕ ŵƵĐŚŽƐ ĨƵĞƌŽŶ ůŽƐ ĂŶĂůŝƐƚĂƐ ƋƵĞ ĐƌĞLJĞƌŽŶ ƋƵĞ <ĞLJŶĞƐ ƚĞŶşĂ ƌĂnjſŶ͘ z ůŽƐ ƉŽůşƚŝĐŽƐ ĚĞů ŵƵŶĚŽ ĞŶƚĞƌŽ ƐĞ ĚĞĚŝĐĂƌŽŶ Ă ŐĂƐƚĂƌ LJ ĞŶĚĞƵĚĂƌƐĞ ĐĂĚĂ ǀĞnj ƋƵĞ ǀĞŶşĂ ƵŶĂ ƌĞĐĞƐŝſŶ͘ ŽŶ ůŽƐ ĂŹŽƐ͕ ůĂ ŝĚĞĂ ĨƵĞ ƉĞƌĚŝĞŶĚŽ ĂĚĞƉƚŽƐ͘ WŽƌ ƵŶ ůĂĚŽ ůŽƐ ĞĐŽŶŽŵŝƐƚĂƐ ŶŽƚĂƌŽŶ ƋƵĞ ůĂ ĚƵƌĂĐŝſŶ ĚĞ ŐƌĂŶ ĚĞƉƌĞƐŝſŶ ŚĂďşĂ ƐŝĚŽ ĞdžĐĞƉĐŝŽŶĂů͘ >Ă ŵĂLJŽƌşĂ ĚĞ ƌĞĐĞƐŝŽŶĞƐ ƚĞŶĚşĂŶ Ă ƐĞƌ ŵƵĐŚŽ ŵĄƐ ĐŽƌƚĂƐ͘ Ğ ŚĞĐŚŽ͕ ĞƌĂŶ ƚĂŶ ĐŽƌƚĂƐ ƋƵĞ ĞŶƚƌĞ ƋƵĞ Ğů ŐŽďŝĞƌŶŽ ĚĞĐŝ̺à LJ ĂƉƌŽďĂďĂ ůŽƐ ƉƌŽŐƌĂŵĂƐ ĚĞ ŐĂƐƚŽ͕ ŽƌŐĂŶŝnjĂďĂ ůŽƐ ĐŽŶĐƵƌƐŽƐ ƉƷďůŝĐŽƐ ĚĞ ĂĚũƵĚŝĐĂĐŝſŶ LJ ĐŽŵĞŶnjĂďĂŶ ůĂƐ ŽďƌĂƐ͕ ůĂ ĐƌŝƐŝƐ LJĂ ŚĂďşĂ ƚĞƌŵŝŶĂĚŽ ƉŽƌ ůŽ ƋƵĞ Ğů ŐĂƐƚŽ ůůĞŐĂďĂ Ă ůĂ ĞĐŽŶŽŵşĂ ĐƵĂŶĚŽ ŶŽ ƐĞ ŶĞĐĞƐŝƚĂďĂ͘ WŽƌ ŽƚƌŽ ůĂĚŽ͕ ĚƵƌĂŶƚĞ ůŽƐ ĂŹŽƐ ŽĐŚĞŶƚĂ LJ ŶŽǀĞŶƚĂ͕ ƐĞ ǀŝĞƌŽŶ ĐůĂƌĂŵĞŶƚĞ ůĂƐ ĐŽŶƐĞĐƵĞŶĐŝĂƐ ĚĞ ƵŶ ĞdžĐĞƐŝǀŽ ĞŶĚĞƵĚĂŵŝĞŶƚŽ͗ ŝŐƵĂů ƋƵĞ ƉĂƐĂ ĐŽŶ ƚŽĚĂƐ ůĂƐ ĨĂŵŝůŝĂƐ͕ ĐƵĂŶĚŽ ƵŶ ĞƐƚĂĚŽ ƐĞ ĞŶĚĞƵĚĂ ƉŽƌ ĞŶĐŝŵĂ ĚĞ ƐƵƐ ƉŽƐŝďŝůŝĚĂĚĞƐ ůůĞŐĂ ƵŶ ŵŽŵĞŶƚŽ ƋƵĞ ůŽƐ ĂĐƌĞĞĚŽƌĞƐ ůĞ ĐŽƌƚĂŶ Ğů ŐƌŝĨŽ͘ ŶƚŽŶĐĞƐ ƐſůŽ ƐĞ ƉƵĞĚĞŶ ŚĂĐĞƌ ĚŽƐ ĐŽƐĂƐ͗ ĂƵŵĞŶƚĂƌ ĚƌĂŵĄƚŝĐĂŵĞŶƚĞ ůŽƐ ŝŵƉƵĞƐƚŽƐ LJ ƌĞĚƵĐŝƌ ĚƌĄƐƚŝĐĂŵĞŶƚĞ Ğů ŐĂƐƚŽ͘ ů ƉƌŽďůĞŵĂ͗ ĂŵďŽƐ ƚŝĞŶĚĞŶ Ă ĐĂƵƐĂƌ ƵŶĂ ƉƌŽĨƵŶĚĂ ƌĞĐĞƐŝſŶ͘ ƐŽ ĞƐ ĞdžĂĐƚĂŵĞŶƚĞ ůŽ ƋƵĞ ƉĂƐſ ĞŶ ƉĂşƐĞƐ ĚĞ ŵĠƌŝĐĂ >ĂƚŝŶĂ LJ ĨƌŝĐĂ ĚƵƌĂŶƚĞ ůĂ ůůĂŵĂĚĂ ͞ĐƌŝƐŝƐ ĚĞ ůĂ ĚĞƵĚĂ͟ ĚĞ ůŽƐ ŽĐŚĞŶƚĂ LJ ĞŶ ƉĂşƐĞƐ ĂƐŝĄƚŝĐŽƐ LJ ĞƵƌŽƉĞŽƐ ĚƵƌĂŶƚĞ ůĂ ͞ĐƌŝƐŝƐ ĨŝŶĂŶĐŝĞƌĂ͟ ĚĞ ůŽƐ ŶŽǀĞŶƚĂ͘ ƐƚĂďĂ ĐůĂƌŽ͕ ƉƵĞƐ͕ ƋƵĞ ĞƐŽ ĚĞ ƋƵĞ ůĂ ĚĞƵĚĂ ŶŽ ŶŽƐ ĚĞďşĂ ƉƌĞŽĐƵƉĂƌ ŶŽ ĞƌĂ ĞdžĂĐƚĂŵĞŶƚĞ ĐŝĞƌƚŽ LJ ĚŽĐĞŶĂƐ ĚĞ ƉĂşƐĞƐ ĚĞ ƚŽĚŽ Ğů ŵƵŶĚŽ ůŽ ĂƉƌĞŶĚŝĞƌŽŶ ƉŽƌ ůĂ ǀşĂ ŵĄƐ ĐƌƵĞů͘ ƐŽ ƉƵƐŽ Ğů ƷůƚŝŵŽ ĐůĂǀŽ ĞŶ Ğů ĂƚĂƷĚ ĚĞů ŬĞLJŶĞƐŝĂŶŝƐŵŽ ƚƌĂĚŝĐŝŽŶĂů͗ ĞŶ Ğů ůĂƌŐŽ ƉůĂnjŽ ŶŽ ƚŽĚŽƐ ĞƐƚĄďĂŵŽƐ ŵƵĞƌƚŽƐ͘ ͋ Ŷ Ğů ůĂƌŐŽ ƉůĂnjŽ ƋƵŝĞŶ ĞƐƚĂďĂ ŵƵĞƌƚŽ ĞƌĂ <ĞLJŶĞƐ͊ WĂƌĞкà ƋƵĞ ƚŽĚŽ ĞƐƚŽ ĞƌĂŶ ůĞĐĐŝŽŶĞƐ ďŝĞŶ ĂƉƌĞŶĚŝĚĂƐ͘ ů ŵĞŶŽƐ ĞƐŽ ĞƐ ůŽ ƋƵĞ ĞŶƐĞŹĄďĂŵŽƐ ĞŶ ůĂƐ ĨĂĐƵůƚĂĚŽƐ ĚĞ ĞĐŽŶŽŵşĂ LJ ĞƐŽ ĞƐ ůŽ ƋƵĞ ŚĂĐşĂŶ ůŽƐ ŵŝŶŝƐƚƌŽƐ ĚĞ ĨŝŶĂŶnjĂƐ ĚĞ ůŽƐ ƉĂşƐĞƐ ďŝĞŶ ŐĞƐƚŝŽŶĂĚŽƐ ƋƵĞ ŝŶĐůƵƐŽ ůůĞŐĂďĂŶ Ă ƚĞŶĞƌ ƐƵƉĞƌĄǀŝƚƐ ĨŝƐĐĂůĞƐ ƉŽƌ Ɛŝ ůĂƐ ŵŽƐĐĂƐ͘ WĞƌŽ ůƵĞŐŽ ůůĞŐſ ůĂ ĐƌŝƐŝƐ ĚĞů ϮϬϬϴͲϮϬϬϵ LJ ƐƵĐĞĚŝſ ĂůŐŽ ĂƐŽŵďƌŽƐŽ͗ ͋ƚŽĚŽ ůŽ ƋƵĞ ŚĂďşĂŵŽƐ ĂƉƌĞŶĚŝĚŽ ƐĞ ůĂŶnjſ ƉŽƌ ůĂ ďŽƌĚĂ͊ WƌĞƐŽƐ ƉŽƌ Ğů ƉĄŶŝĐŽ ĚĞů ŵŽŵĞŶƚŽ͕ ƉƌŽĨĞƐŽƌĞƐ͕ ĞĐŽŶŽŵŝƐƚĂƐ LJ ƉŽůşƚŝĐŽƐ ƋƵĞ ŚĂƐƚĂ ĞŶƚŽŶĐĞƐ ŚĂďşĂŶ ƐŝĚŽ ƐĞŶƐĂƚŽƐ͕ ĂďĂŶĚŽŶĂƌŽŶ ƐƵ ĐŽƌĚƵƌĂ LJ ĂƉůŝĐĂƌŽŶ ůŽƐ ƉƌŽŐƌĂŵĂƐ ĚĞ ĚŝƐƉĞŶĚŝŽ ƉƷďůŝĐŽ ŵĄƐ ŐƌĂŶĚĞƐ ƋƵĞ ũĂŵĄƐ ŚĂ ǀŝƐƚŽ Ğů ŚŽŵďƌĞ ;Ž ůĂ ŵƵũĞƌͿ͘ >ŽƐ ĚĠĨŝĐŝƚƐ ĨŝƐĐĂůĞƐ LJ ůĂ ĚĞƵĚĂ ƉƷďůŝĐĂ ĂƵŵĞŶƚĂƌŽŶ ŚĂƐƚĂ ůşŵŝƚĞƐ ƋƵĞ ƐſůŽ ĚŽƐ ĂŹŽƐ ĂŶƚĞƐ ŚĂďƌşĂŶ ƐŝĚŽ ĐĂƚĂůŽŐĂĚŽƐ ĚĞ ůŽĐƵƌĂ͘ Ğ ŚĞĐŚŽ͕ ĞŶ ůŽƐ ƉĂşƐĞƐ ĚĞ ůĂ njŽŶĂ ĞƵƌŽ ĞƌĂŶ ŝůĞŐĂůĞƐ ƉŽƌƋƵĞ ǀŝŽůĂďĂŶ ůŽƐ ƉĂĐƚŽƐ ĚĞ ĞƐƚĂďŝůŝĚĂĚ ƐŽďƌĞ ůŽƐ ƋƵĞ ƐĞ ŚĂďşĂ ĐŽŶƐƚƌƵŝĚŽ ůĂ ŵŽŶĞĚĂ ƷŶŝĐĂ͘ WĞƌŽ ŶĂĚĂ ĚĞ ĞƐŽ

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Greece should sell islands to keep bankruptcy at bay, say German MPs |...

http://www.guardian.co.uk/business/2010/mar/04/greece-sell-islands-g...

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09/03/2012 12:31

Greece should sell islands to keep bankruptcy at bay, say German MPs |...

http://www.guardian.co.uk/business/2010/mar/04/greece-sell-islands-g...

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09/03/2012 12:31

BBC News - Greece should sell islands to cut debt - Merkel allies

http://newsvote.bbc.co.uk/mpapps/pagetools/print/news.bbc.co.uk/2/hi/...

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09/03/2012 12:30

Cuando la austeridad falla ยท ELPAร S.com

Versiรณn para imprimir

http://www.elpais.com/articulo/economia/austeridad/falla/elpepieco/2...

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TRIBUNA: La crisis del euro PAUL KRUGMAN

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24/01/2012 13:27

Cuando la austeridad falla · ELPAÍS.com

http://www.elpais.com/articulo/economia/austeridad/falla/elpepieco/2...

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24/01/2012 13:27

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ƌŝƐŝ ;ϮϴͿ͗ WƌŽĨĞĐŝĞƐ ƵƚŽƌƌĞĂůŝƚnjĂĚĞƐ ƉĞƌ Ğů yĂǀŝĞƌ ^ĂůĂ DĂƌƚŝŶ Ğů ĚŝŵĞĐƌĞƐ͕ ϭϰ ͬ ƐĞƚĞŵďƌĞ ͬ ϮϬϭϭ Ă ůĞƐ ϭϴ͗ϰϳ hŶĂ ĚĞ ůĞƐ ĞƐĐĞŶĞƐ ŵĠƐ ŝŶƚĞƌĞƐƐĂŶƚƐ ĚĞ DĂƌLJ WŽƉƉŝŶƐ ĠƐ ƋƵĂŶ Dƌ͘ ĂŶŬƐ ŝŶƚĞŶƚĂ ŝŵƉĞĚŝƌ ƋƵĞ Ğů ƐĞƵ Ĩŝůů DŝĐŚĂĞů ŐĂƐƚŝ ĚŽƐ ƉĞŶŝĐƐ ƋƵĞ ŚĂ ĞƐƚĂůǀŝĂƚ ĐŽŵƉƌĂŶƚ ĂůŝŵĞŶƚ ƉĞƌ Ă ŽĐĞůůƐ ŝ ůŝ ŽďůŝŐĂ Ă ĂŶĂƌ Ăů ďĂŶĐ ĚŝƉŽƐŝƚĂƌ ĞůƐ ĚŝŶĞƌƐ͘ hŶĂ ǀĞŐĂĚĂ Ă ůĂ ƐƵĐƵƌƐĂů͕ ĂƉĂƌĞŝdž Ğů ĚŝƌĞĐƚŽƌ ĚĞů ďĂŶĐ͕ ůΖĂŶĐŝă Dƌ͘ ĂǁĞƐ ;ΗƵŶ ŐĞŐĂŶƚ ĚĞ ůĞƐ ĨŝŶĂŶĐĞƐΗ͕ ůŝ džŝƵdžŝƵĞũĂ Dƌ͘ ĂŶŬƐ Ăů ƐĞƵ ĨŝůůͿ ƋƵŝ͕ ĚĞƐƉƌĠƐ ĚĞ ĐĂŶƚĂƌ ƵŶĂ ĐĂŶĕſ ƌĞƐƐĂůƚĂŶƚ ůĞƐ ďŽŶĚĂƚƐ ĚĞ ůĂ ĨƌƵŐĂůŝƚĂƚ͕ ůĂ ƉƌƵĚğŶĐŝĂ ŝ ůĂ ŝŶǀĞƌƐŝſ ĨŝŶĂŶĐĞƌĂ͕ ůŝ ƚƌĞƵ ĞůƐ ĚŽƐ ƉĞŶŝĐƐ ĚĞ ůĂ ŵă͘ ů ŶĞŶ ƌĞĂĐĐŝŽŶĂ ƚŽƚ ĐƌŝĚĂŶƚ ĞŶĨƵƌŝƐŵĂƚ͗ ƌĞƚŽƌŶŝDzŵ ĞůƐ ĚŝŶĞƌƐ͊ / ĠƐ ůůĂǀŽƌƐ ƋƵĂŶ ĐŽŵĞŶĕĂ Ğů ĚĞƐĂƐƚƌĞ͗ ĞŶ ƐĞŶƚŝƌ ůĂ ƉƌŽƚĞƐƚĂ ĚĞů ŶĞŶ͕ ƵŶĂ ĐůŝĞŶƚĂ ŝŶƚĞƌƉƌĞƚĂ ƋƵĞ Ğů ďĂŶĐ ŶŽ ƉŽƚ ƌĞŝŶƚĞŐƌĂƌ ĞůƐ ĚŝŶĞƌƐ ĂůƐ ƐĞƵƐ ĚŝƉŽƐŝƚĂŶƚƐ ŝ͕ ĂůĂƌŵĂĚĂ͕ ǀŽĐŝĨĞƌĂ͗ ĂƋƵĞƐƚ ďĂŶĐ ŶŽ ĠƐ ƐĞŐƵƌ͕͊ Ă ŵŝ ƚĂŵďĠ ƚŽƌŶŝŶͲŵĞ ĞůƐ ĚŝŶĞƌƐ͊ dŽƚ ƐĞŐƵŝƚ͕ Ğů ƉăŶŝĐ ƐΖĂƉŽĚĞƌĂ ĚĞ ƚŽƚƐ ĞůƐ ĐůŝĞŶƚƐ ƋƵĞ͕ ĂůĂƌŵĂƚƐ͕ ĐŽƌƌĞŶ ĐĂƉ ĂůƐ ĐĂŝdžĞƌƐ ƉĞƌ ƌĞƚŝƌĂƌ ĞůƐ ƐĞƵƐ ĞƐƚĂůǀŝƐ͘ Ŷ ŵĞŶLJƐ ĚĞů ƋƵĞ ĞƐ ƚƌŝŐĂ Ă Ěŝƌ ƐƵƉĞƌĐĂůŝĨƌĂŐŝůŝƐƚŝĐŽĞƐƉŝĂůŝĚſƐ͕ Ğů ďĂŶĐ͕ ĂƌƌƵŢŶĂƚ͕ ĠƐ ŽďůŝŐĂƚ Ă ƚĂŶĐĂƌ ƉŽƌƚĞƐ͘ ůƐ ƉăŶŝĐƐ ďĂŶĐĂƌŝƐ ĐŽŵ ĞůƐ ĚĞƐĐƌŝƚƐ Ă ůĂ DĂƌLJ WŽƉƉŝŶƐ ĚĞ ƉƌŝŶĐŝƉŝƐ ĚĞů ƐĞŐůĞ yy͕ ƐſŶ ƵŶ ĞdžĞŵƉůĞ ĚĞů ƋƵğ ĞůƐ ĞĐŽŶŽŵŝƐƚĞƐ ĂŶŽŵĞŶĞŵ ΗĨĂůƐĞƐ ƉƌŽĨĞĐŝĞƐ ĂƵƚŽƌƌĞĂůŝƚnjĂĚĂΗ͗ ĨĂůƐŽƐ ƌƵŵŽƌƐ ƋƵĞ ĚĞƐĞŶĐĂĚĞŶĞŶ ƵŶƐ ĨĞƚ ƋƵĞ ĂĐĂďĞŶ ĨĞŶƚ ƋƵĞ Ğů ƌƵŵŽƌ ĞƐ ĐŽŵƉůĞŝdžŝ͘ Ŷ Ğů ĐĂƐ ĚĞů ďĂŶĐ ƐƵĂƌĂ ĞƐŵĞŶƚĂƚ͕ Ğů ďĂŶĐ ƉŽƚ ƐĞƌ ƉĞƌĨĞĐƚĂŵĞŶƚ ƐŽůǀĞŶƚ ;ĠƐ Ă Ěŝƌ͕ ĞůƐ ĂĐƚŝƵƐ ƐſŶ ƐƵƉĞƌŝŽƌƐ ĂůƐ ƐĞƵƐ ĚĞƵƚĞƐͿ͘ ^ŝ ĂƉĂƌĞŝdž ƵŶ ƌƵŵŽƌ ƋƵĞ ĚŝƵ ƋƵĞ Ğů ďĂŶĐ ŶŽ ƚĠ ƉƌŽƵ ƌĞĐƵƌƐŽƐ ƉĞƌ ƌĞŝŶƚĞŐƌĂƌ ĞůƐ ƐĞƵƐ ĚŝƉŽƐŝƚĂŶƚƐ͕ ĞƐ ƉŽƚ ŐĞŶĞƌĂƌ ƵŶ ƉăŶŝĐ ƋƵĞ ƉŽƌƚŝ ĂůƐ ĐůŝĞŶƚƐ Ă ƌĞƚŝƌĂƌ ůůƵƌƐ ĞƐƚĂůǀŝƐ͘ ^ŝ ŚŽ ĨĂŶ͕ Ğů ďĂŶĐ ĞƐ ƋƵĞĚĂ ƐĞŶƐĞ ĞĨĞĐƚŝƵ͘ WĞƌ ŽďƚĞŶŝƌ ŵĠƐ ĚŝŶĞƌƐ͕ ŚĂ ĚĞ ǀĞŶĚƌĞ ĂĐƚŝƵƐ Ă ƉƌĞƵ ĚĞ ƐĂůĚŽ ŝ ƉŽƚ ĂƌƌŝďĂƌ Ğů ƉƵŶƚ ĞŶ ƋƵğ ĞůƐ ĂĐƚŝƵƐ ƋƵĞ ůŝ ƋƵĞĚŝŶ ƐŝŐƵŝŶ ƚĂŶ ƉĞƚŝƚƐ ƋƵĞ͕ ĞĨĞĐƚŝǀĂŵĞŶƚ͕ ŶŽ ƐſŶ ƐƵĨŝĐŝĞŶƚƐ ƉĞƌ ƉĂŐĂƌ ĞůƐ ĚĞƵƚĞƐ͘ ů ďĂŶĐ ĠƐ͕ ĚŽŶĐƐ͕ ŝŶƐŽůǀĞŶƚ ƚĂů ŝ ĐŽŵ ĂŶƵŶĐŝĂǀĂ Ğů ĨĂůƐ ƌƵŵŽƌ͘ WĞƌ ƐŽůƵĐŝŽŶĂƌ Ğů ƉƌŽďůĞŵĂ ĚĞůƐ ƉăŶŝĐƐ ďĂŶĐĂƌŝƐ͕ ĚƵƌĂŶƚ Ğů ƐĞŐůĞ yy ĞƐ ǀĂŶ ŝŶƚƌŽĚƵŝƌ ƚƌĞƐ ƐŽůƵĐŝŽŶƐ͘ >Ă ƉƌŝŵĞƌĂ ǀĂ ƐĞƌ ůΖĂƐƐĞŐƵƌĂŶĕĂ ĚĞ ĚŝƉžƐŝƚƐ ;Ă ƐƉĂŶLJĂ ĂŶŽŵĞŶĂƚ &ŽŶƐ ĚĞ 'ĂƌĂŶƚŝĂ ĚĞ ŝƉžƐŝƚƐͿ͘ ƋƵĞƐƚ ĨŽŶƐ ĂƐƐĞŐƵƌĂ ƋƵĞ Ɛŝ ƵŶ ďĂŶĐ ĨĂ ĨĂůůŝĚĂ͕ ĞůƐ ĐůŝĞŶƚƐ ƌĞĐƵƉĞƌĂƌĂŶ ĞůƐ ƐĞƵƐ ĞƐƚĂůǀŝƐ ĚĞ ŵĂŶĞƌĂ ƋƵĞ ŵĂŝ ŶŽ ƚĠ ƉĞƌ ƋƵğ ĞƐĐĂŵƉĂƌͲƐĞ Ğů ƉăŶŝĐ͘ >Ă ƐĞŐŽŶĂ ǀĂ ƐĞƌ ůĂ ĐƌĞĂĐŝſ ĚĞů ĂŶĐ ĞŶƚƌĂů͗ ƵŶ ďĂŶĐ Ăŵď ĐĂƉĂĐŝƚĂƚ ĚΖŝŵƉƌŝŵŝƌ ĚŝŶĞƌƐ ŝ Ăů ƋƵĞ ƋƵĂůƐĞǀŽů ďĂŶĐ ƉƌŝǀĂƚ ƉŽƚ ĚĞŵĂŶĂƌ ƉƌĞƐƚĂƚ ĚƵƌĂŶƚ ƵŶƐ ĚŝĞƐ ĞŶ ĐĂƐ ƋƵĞ ƚŽƚƐ ĞůƐ ĐůŝĞŶƚƐ ǀĂŐŝŶ Ăů ďĂŶĐ ĂůŚŽƌĂ Ă ƌĞƚŝƌĂƌ ĞůƐ ƐĞƵƐ ĞƐƚĂůǀŝƐ͘ >Ă ƚĞƌĐĞƌĂ ĠƐ ůĂ ƌĞŐƵůĂĐŝſ͗ ůΖĞƐƚĂƚ ŽďůŝŐĂ ĞůƐ ďĂŶĐƐ Ă ŵĂŶƚĞŶŝƌ ƵŶĂ ƋƵĂŶƚŝƚĂƚ ƐĞŐƵƌĂ ĚĞ ĚŝŶĞƌƐ ĞŶ ĞĨĞĐƚŝƵ ƉĞƌ ĨĞƌ ĨƌŽŶƚ Ă ƉŽƐƐŝďůĞƐ ƉăŶŝĐƐ͘ ůƐ ĞdžƉůŝĐŽ ƚŽƚ Ăŝdžž ƉĞƌƋƵğ ĠƐ ƉŽƐƐŝďůĞ ƋƵĞ ĂůŐƵŶƐ ƉĂŢƐŽƐ ĚĞ ůΖĞƵƌŽ͕ ĐŽŵ ƐƉĂŶLJĂ͕ ƐΖĞŶĨƌŽŶƚŝŶ Ă ƵŶ ƚŝƉƵƐ ĚĞ ĨĂůƐĂ ƉƌŽĨĞĐŝĂ ĂƵƚŽƌĞĂůŝƚnjĂĂĚĂ ƐĞŵďůĂŶƚ͘ ů ĚĞƵƚĞ ĞƐƉĂŶLJŽů ŶŽ ĠƐ ĞdžƚƌĂǀĂŐĂŶƚŵĞŶƚ ĞůĞǀĂƚ͕ ĂůŵĞŶLJƐ Ɛŝ Ğů ĐŽŵƉĂƌĞŵ Ăŵď ůĂ ĚĞ ůĂ ƌĞƐƚĂ ĚĞ ƉĂŢƐŽƐ ĞƵƌŽƉĞƵƐ͘ YƵĂŶ ƵŶ ĨĂ ĞůƐ ĐăůĐƵůƐ ĚΖŝŶŐƌĞƐƐŽƐ ĚĞ ůΖĞƐƚĂƚ ƉƌĞƐĞŶƚƐ ŝ ĨƵƚƵƌƐ ŝ ůŝ ƌĞƐƚĂ ůĞƐ ĚĞƐƉĞƐĞƐ ŽďůŝŐĂƚžƌŝĞƐ ;ƐƵďƐŝĚŝƐ ĚΖĂƚƵƌ͕ ƐĂůĂƌŝƐ ĚĞ ĨƵŶĐŝŽŶĂƌŝƐ͕ ƐĂŶŝƚĂƚ͕ ĞƚĐͿ͕ ƵŶ ǀĞƵ ƋƵĞ ƐƉĂŶLJĂ͕ ĞŶ ƉƌŝŶĐŝƉŝ͕ ƚĠ ƉƌŽƵ ĚŝŶĞƌƐ ƉĞƌ ƉĂŐĂƌ ĂůƐ ƐĞƵƐ ĐƌĞĚŝƚŽƌƐ ĂůƐ ƚŝƉƵƐ ĚΖŝŶƚĞƌğƐ ǀŝŐĞŶƚƐ ĂƌĂ͘ Ɛ Ă Ěŝƌ͕ ůΖĞƐƚĂƚ ĞƐƉĂŶLJŽů ĠƐ ƉĞƌĨĞĐƚĂŵĞŶƚ ƐŽůǀĞŶƚ͘ WĞƌž ŝŵĂŐŝŶĞŵ ƋƵĞ͕ ĚĞ ƐŽďƚĞ͕ ĐŽƌƌĞŶ ƌƵŵŽƌƐ ƋƵĞ ĚŝƵĞŶ ƋƵĞ ƐƉĂŶLJĂ ƉŽƚ ĨĞƌ ĨĂůůŝĚĂ͘ Ɛ Ă Ěŝƌ͕ ƋƵĞ ƉŽƚ ŶŽ ƚĞŶŝƌ ƉƌŽƵ ƌĞĐƵƌƐŽƐ ĨŝƐĐĂůƐ ƉĞƌ ĨĞƌ ĨƌŽŶƚ ĂůƐ ƐĞƵƐ ĚĞƵƚĞƐ͘ Ɛ ƵŶ ƌƵŵŽƌ ĨĂůƐ ƉĞƌž͕ ǀĞŝĞŶƚ Ğů ƋƵĞ

ƉĂƐƐĂ Ă 'ƌğĐŝĂ͕ ĂůŐƵŶƐ ŝŶǀĞƌƐŽƌƐ ƉĞŶƐĞŶ ƋƵĞ ŶŽ ĠƐ ƉĂƐ ĨŽƌĂƐƐĞŶLJĂƚ͘ WĞƌ ĐŽďƌŝƌͲƐĞ ĞŶ ƐĂůƵƚ͕ ĂƋƵĞƐƚƐ ŝŶǀĞƌƐŽƌƐ ŶŽŵĠƐ ƉƌĞƐƚĂƌĂŶ Ă ůΖĞƐƚĂƚ ĞƐƉĂŶLJŽů Ă ƵŶƐ ƚŝƉƵƐ ĚΖŝŶƚĞƌğƐ ƐƵƉĞƌŝŽƌƐ͘ Ɛ Ğů ƋƵĞ ĞƐ ĚŝƵ ůĂ ƉƌŝŵĂ ĚĞ ƌŝƐĐ͘ &Ğ ĨĞƚ͕ Ɛŝ Ğů ƉăŶŝĐ ƐΖĂƉŽĚĞƌĂ ĚĞůƐ ŝŶǀĞƌƐŽƌƐ͕ ĞůƐ ƚŝƉƵƐ ĚΖŝŶƚĞƌğƐ ƉŽĚĞŶ ĂƌƌŝďĂƌ ƐĞƌ ƚĂŶ ĂůƚƐ ƋƵĞ ƐƉĂŶLJĂ ŶŽ ĞůƐ ƉƵŐƵŝ ƉĂŐĂƌ͘ >Ă ĨĂůƐĂ ƉƌŽĨĞĐŝĂ ƋƵĞ ĚĞŝĂ ƋƵĞ ƐƉĂŶLJĂ ĞƌĂ ŝŶƐŽůǀĞŶƚ͕ ĚŽŶĐƐ͕ ƐΖĂĐĂďĂ ĂƵƚŽƌƌĞĂůŝƚnjĂŶƚ͘ Žŵ ĞŶ Ğů ĐĂƐ ĚĞů ƉăŶŝĐ ďĂŶĐĂƌŝ͕ Śŝ ŚĂ ĚŝǀĞƌƐĞƐ ŵĂŶĞƌĞƐ ĚĞ ĐŽƌƌĞŐŝƌ ĂƋƵĞƐƚ ƉƌŽďůĞŵĂ͘ hŶĂ ĠƐ ƋƵĞ Ğů ĂŶĐ ĞŶƚƌĂů ƵƌŽƉĞƵ͕ ͕ ĞƐ ĐŽŵƉƌŽŵĞƚŝ ĐƌĞŢďůĞŵĞŶƚ Ă ĐŽŵƉƌĂƌ ĚĞƵƚĞ ĞƐƉĂŶLJŽů Ă ƚŝƉƵƐ ĚΖŝŶƚĞƌğƐ ďĂŝdžŽƐ͘ hŶĂ ĂůƚƌĂ ƐŽůƵĐŝſ ĠƐ ůĂ ĐƌĞĂĐŝſ ĚΖƵŶ ĨŽŶƐ ƐĞŵďůĂŶƚ Ăů &ŽŶƐ ĚĞ 'ĂƌĂŶƚŝĂ ĚĞ ŝƉžƐŝƚƐ͕ ĨŝŶĂŶĕĂƚ ƉĞƌ ƚŽƚƐ ĞůƐ ĞƐƚĂƚƐ ĚĞ ůΖ ƵƌŽ͕ ƋƵĞ ŐĂƌĂŶƚĞŝdžŝ ƋƵĞ Ğů ĚĞƵƚĞ ĚĞ ƚŽƚƐ ĞůƐ ŵĞŵďƌĞƐ ƐĞƌă ƌĞƚŽƌŶĂƚ͘ ƵƌŽƉĂ ũĂ ƐΖŚĂ ĐŽŵƉƌŽŵğƐ Ă ĐƌĞĂƌ Ğů ΗDĞĐĂŶŝƐŵĞ ƵƌŽƉĞƵ ĚΖ ƐƚĂďŝůŝƚĂƚΗ ;D Ϳ Ă ƉĂƌƚŝƌ ĚĞů ϮϬϭϯ͘ ^ŝ Ğů ĨŽŶƐ ĞƐƚă ƉƌŽƵ ĚŽƚĂƚ ŝ ůĂ ƐĞǀĂ ƉĞƌŵĂŶğŶĐŝĂ ĞŶ Ğů ƚĞŵƉƐ ĞƐƚă ŐĂƌĂŶƚŝĚĂ͕ ůĞƐ ƉƌŝŵĞƐ ĚĞ ƌŝƐĐ ĚĞŐƵĚĞƐ ĂůƐ ĨĂůƐŽƐ ƌƵŵŽƌƐ ŚĂƵƌŝĞŶ ĚĞ ĚĞƐĂƉĂƌğŝdžĞƌ͘ hŶĂ ƚĞƌĐĞƌĂ ƐŽůƵĐŝſ ƐĞƌŝĂ ƋƵĞ ƚŽƚƐ ĞůƐ ĞƐƚĂƚƐ ŵĞŵďƌĞƐ ĚĞ ůΖĞƵƌŽ ĞƐ ĨĂĐŝŶ ƌĞƐƉŽŶƐĂďůĞƐ ƐŽůŝĚĂƌŝƐ ĚĞůƐ ĚĞƵƚĞƐ ĚĞůƐ ĚĞŵĠƐ͘ Ɛ Ă Ěŝƌ͕ Ɛŝ ƐƉĂŶLJĂ ŶŽ ƚŽƌŶĂ ĞůƐ ĚŝŶĞƌƐ͕ ůĞŵĂŶLJĂ ĞƐ ĐŽŵƉƌŽŵĞƚ Ă ĨĞƌͲŚŽ ƉĞƌ ĞůůĂ͘ Ŷ ĂƋƵĞƐƚ ĐĂƐ͕ ĞůƐ ďŽŶƐ ĚĞ ůΖĞƐƚĂƚ ĞƐƉĂŶLJŽů ĚĞŝdžĂƌŝĞŶ ĚĞ ƐĞƌ ĞƐƉĂŶLJŽůƐ ŝ ƉĂƐƐĂƌŝĞŶ Ă ƐĞƌ ĞƵƌŽƉĞƵƐ͘ ^ſŶ ĞůƐ ĂŶŽŵĞŶĂƚƐ ĞƵƌŽďŽŶƐ͘ / ĂƋƵş ĠƐ ƋƵĂŶ ǀŽƐƚğƐ ĞƐ ƉƌĞŐƵŶƚĞŶ͗ Ɛŝ ĠƐ ƚĂŶ ĨăĐŝů͕ ƉĞƌ ƋƵğ ůĞƐ ŶŽƐƚƌĞƐ ĂƵƚŽƌŝƚĂƚƐ ŶŽ ŚŽ ĨĂŶ͍ >Ă ƌĞƐƉŽƐƚĂ ĠƐ ƚĂŶ ƐĞŶnjŝůůĂ ĐŽŵ ůĂ ƉƌĞŐƵŶƚĂ͗ ƉĞƌƋƵğ ĞůƐ ĂůĞŵĂŶLJƐ ŶŽ ǀŽůĞŶ͘​͘​͘ Ž ŶŽ ƉŽĚĞŶ͘ &ŝŶƐ ĂƌĂ͕ Ğů ŚĂ ĐŽŵƉƌĂƚ ďŽŶƐ ĞƐƉĂŶLJŽůƐ ŝ ŝƚĂůŝĂŶƐ͕ ƉĞƌž ĂƋƵĞƐƚĞƐ ĐŽŵƉƌĞƐ ŚĂŶ ĞƐƚĂƚ ĞƌƌăƚŝƋƵĞƐ ŝ ŶŝŶŐƷ ŶŽ ƐĂƉ ĨŝŶƐ ƋƵĂŶ ŚŽ ĐŽŶƚŝŶƵĂƌă ĨĞŶƚ͘ ů ŚĂƵƌŝĂ ĚΖĂĐůĂƌŝƌ ůĂ ƐĞǀĂ ƉŽůşƚŝĐĂ ƉĞƌž ŶŽ ŚŽ ĨĂ ƉĞƌƋƵğ ĞůƐ ƌĞƉƌĞƐĞŶƚĂŶƚƐ ĂůĞŵĂŶLJƐ ƐΖŽƉŽƐĞŶ Ă ĐŽŵƉƌĂƌ ĚĞƵƚĞ͘ Ğ ĨĞƚ͕ Ğů ƌĞƉƌĞƐĞŶƚĂŶƚ ĂůĞŵĂŶLJ ĚĞů ǀĂ Ěŝŵŝƚŝƌ ůĂ ƐĞƚŵĂŶĂ ƉĂƐƐĂĚĂ ƉƌĞĐŝƐĂŵĞŶƚ ƉĞƌ ůĂ ƐĞǀĂ ŽƉŽƐŝĐŝſ Ă ůĂ ĐŽŵƉƌĂ ĚĞ ďŽŶƐ ĚĞ ůΖĞƐƚĂƚ͘ >ΖŽƉŽƐŝĐŝſ ĂůĞŵĂŶLJĂ ƚĂŵďĠ ĞŶƚŽƌƉĞŝdž ůĂ ĐƌĞĂĐŝſ ĚĞů D ŝ ĚĞůƐ ĞƵƌŽďŽŶƐ͘ Ğ ĨĞƚ͕ Ğů ƚƌŝďƵŶĂů ĐŽŶƐƚŝƚƵĐŝŽŶĂů ĂůĞŵĂŶLJ ǀĂ ƐĞŶƚĞŶĐŝĂƌ ĨĂ ƵŶ ƉĂƌĞůů ĚĞ ƐĞƚŵĂŶĞƐ ƋƵĞ ĞůƐ ĂũƵƚƐ ĂůĞŵĂŶLJƐ Ă ƉĂŢƐŽƐ ĂŵŝĐƐ ŶŽ ĞƌĞŶ ŝŶĐŽŶƐƚŝƚƵĐŝŽŶĂůƐ ƐĞŵƉƌĞ ƋƵĞ ĨŽƐƐŝŶ ƚĞŵƉŽƌĂůƐ͘ ů ƋƵĞ Ɛş ƋƵĞ ĞƌĂ ŝŶĐŽŶƐƚŝƚƵĐŝŽŶĂů͕ ǀĂŶ ĚŝĐƚĂƌ ĞůƐ ůůĞƚƌĂƚƐ͕ ĞƌĞŶ ĞůƐ ĂũƵƚƐ ƉĞƌŵĂŶĞŶƚƐ͘ WƌŽďůĞŵĂ͗ Ɛŝ ǀŽůĞŵ ƋƵĞ ĨƵŶĐŝŽŶŝŶ͕ Ğů D Ž ĞůƐ ĞƵƌŽďŽŶƐ ŚĂŶ ĚĞ ƐĞƌ ŵĞĐĂŶŝƐŵĞƐ ƉĞƌŵĂŶĞŶƚƐ͘ >Ă ŝŶĐĞƌƚĞƐĂ ůĞŐĂů ƋƵĞ ůĂ ƐĞŶƚğŶĐŝĂ ĂůĞŵĂŶLJĂ ŐĞŶĞƌĂ͕ ĚŽŶĐƐ͕ ĠƐ ƚĂŶ ŐƌĂŶ ƋƵĞ͕ ŵĞŶƚƌĞ ŶŽ ĞƐ ƌĞƐŽůŐƵŝ͕ ƵƌŽƉĂ ĐŽŶƚŝŶƵĂƌă ǀŝǀŝŶƚ ĞƉŝƐŽĚŝƐ ĚĞ ƉƌŽĨĞĐŝĞƐ ĂƵƚŽƌƌĞĂůŝƚnjĂĚĞƐ͘

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TRIBUNA: Laboratorio de ideas JOSEPH E. STIGLITZ

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La cura para la economía · ELPAÍS.com

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24/01/2012 11:41

ƌŝƐŝ ;ϱϵϯͿ͗ >Ζ ŝdžĞƚĂ ĚĞů ƉĞƌ Ğů yĂǀŝĞƌ ^ĂůĂ DĂƌƚŝŶ ! " # $ " % & ' % ( $ " " ) * " !& * % # + % % * " " " % % " % , ) , - "- + & % ) " " . * & / * % " 0 " + % 1 " 2 312 4 " ! % , % 5 " " * % # * ( & 6 0

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ŽƐ DŝƚŽƐ ƐŽďƌĞ >Ă ŽŵƉĞƚŝƚŝǀŝĚĂĚ ƉĞƌ Ğů yĂǀŝĞƌ ^ĂůĂ DĂƌƚŝŶ ! " " # $ % % " & ' " ( ) ( * + ,! - . # /* % / % " 0 1 % # " # " % 0 2 " % + % " ) 3 % # " # 0 " # 4 " % # 1 ! 4 5 % + # . " % + " % 4 + 678 9 " % " 6 ( " : ; % + 9 ! 2 " ) " < " 4 = 0 4 : / " % % 61 " 9 6> 9 67? 9 6 @ 9 )/ 65

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% ! % ! # ! ( 9 ! " D ' ! ! ! " , % ( 2 $ ! L + L $ . % ! ! ! / ! 0" ! !! " ! ! 2 -% ( L $ ! $ $ 5 : % % $ & $ % $ $ 5 !! ? M" L $ % ! ! ! ! % ! ! " C ! ! ! 2 ) ! 2 , ! 9 ! . " E % % # ! ! " + % $ ! $N - ! !! / ! 0" ! 9 ! $ ! ! ! ! % ! % ! ! ! " % $ % C ! # 2 ! " ! % $ # ( " B ! ! ) % ( ! # ! ( ! % & ! % ! ! ( ! ( ! 2 % & 2 " GE H 9 ! ( 9 ! % ! ! ( ! ! " ! ' ! ! $ ! , ( ! !. % $ ! " ! # ! ! ( ! ! , 9 ! . # ( ! " B ' # ! ! ! & " + # % ( ! " C %

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Stiglitz considera que bajar los salarios agrava la crisis ยท ELPAร S.com

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6WLJOLW] FRQVLGHUD TXH EDMDU ORV VDODULRV DJUDYD OD FULVLV El premio Nobel reclama flexibilidad laboral pero advierte en contra de utilizar la liberalizaciรณn solo para reducir salarios ()( /LVERD

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24/01/2012 11:45

Los peligros de 2012 ยท ELPAร S.com

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TRIBUNA: Laboratorio de ideas JOSEPH E. STIGLITZ

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24/01/2012 11:37

Los peligros de 2012 · ELPAÍS.com

http://www.elpais.com/articulo/primer/plano/peligros/2012/elpepuecon...

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24/01/2012 11:37

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