In The New York Times editorial by Paul Krugman entitled "Death of a Fairy Tale" (April 26, 2012), why does Krugman say the confidence fairy is a myth? Do you think most informed Americans would agree with Krugman's idea that the confidence fairy is an illusion and that austerity program-like measures will not promote growth in California? Provide examples from any of your reading, your conversations with other Americans or your experience to support your evaluation of the author's assertion.

"Does Austerity Promote Economic Growth?" by Robert J. Shiller at Project Syndicate: A World of Ideas

"Greek Government Debt Crisis" At Wikipedia

"Those Revolting Europeans" by Paul Krugman in The New York Times (May 5, 2012)

Finals should be e-mailed to me by Tuesday May 15, 2012 at 6:00 PM PST