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Category Archives: “Saltwater” vs “Freshwater”
Paul Krugman: Reinhart And Rogoff Are Not Happy
Update: Brad DeLong makes my point with graphs. Their letter is here. This could go on forever, and both they and I have other things to do. So let me just state — clearly, I hope — where their … Continue reading
Paul Krugman: Sharing Abuse Fairly
Jeff Frankel sorta-kinda defends Reinhart-Rogoff, and says that Alberto Alesina is the bigger austerity villain, having failed to receive his “fair share of abuse”. Brad DeLong weighs in to say that R-R continue to have a lot to answer … Continue reading
Which Textbook Is That, Exactly?
OK, on the road, and a quick post over coffee. Ryan Avent, like me, was favorably impressed by the Nick Crafts piece on British policy in the 1930s. I was, however, slightly puzzled, in a tooting-my-own-horn fashion, by the … Continue reading
Paul Krugman: The Moral Equivalent of Space Aliens
To almost everyone’s surprise, Japan — Japan! — has emerged as the advanced country most willing to break with austerian orthodoxy and try a combination of aggressive monetary and fiscal stimulus. The verdict on Abenomics is, of course, still … Continue reading
Paul Krugman: There’s Something About Maynard
After his Keynesianism-is-gay remarks got him in trouble, Niall Ferguson did the right thing and offered a straightforward, no excuses apology. Unfortunately, it seems that he has reverted to type; sigh. But this does seem to call for an … Continue reading
Paul Krugman: The 1 Percent’s Solution
Economic debates rarely end with a T.K.O. But the great policy debate of recent years between Keynesians, who advocate sustaining and, indeed, increasing government spending in a depression, and austerians, who demand immediate spending cuts, comes close — at … Continue reading
Posted in austerians, Austerity, “Saltwater” vs “Freshwater”, NYT, Paul Krugman
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Paul Krugman: Domo Arigato, Mr. Roboto — I Mean, Mr. Smith
Noah Smith says I’m Voltron the Invincible. Pardon me while I blush. But he says that my track record doesn’t come from knowing IS-LM, it comes from knowing about Japan. I think he has a point, but it’s not … Continue reading
Paul Krugman: Gold Does Not Glitter
So, the slide in gold has turned into a rout. As Joe Weisenthal says, this should be seen as really good news, because it offers strong evidence that the goldbug/inflationista view of the world — which says that we … Continue reading
Posted in “Saltwater” vs “Freshwater”, Gold, Paul Krugman
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Paul Krugman: Voters, Deficits, and Jobs
Update: On the other hand, via Greg Sargent, a huge majority of Americans — three quarters! — supports federal spending programs to create jobs. But we know that this is out of the question, because, well, because. Some people … Continue reading
Paul krugman: Misunderstanding IS-LM (Wonkish and Unimportant)
Some readers have asked me to reply to this Steve Keen piece claiming that I don’t understand the IS-LM model. Sigh. I really don’t want to spend time fighting against people with whom I don’t really have a current … Continue reading
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