08 Jun 2018

Krugman Nails It On the Press and Argentina

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I had toyed with writing this up, but I’m just too swamped with stuff this month. So a drive-by instead. First we have Krugman rolling his eyes at the financial press in 2012:

And then a news item from last month:

And incidentally, I don’t think this is just a Nelsonian moment of ridicule. The essence of Krugman’s monetary and fiscal policies, in my view, is short-term gain and who cares about the long-term pain. He literally said during the depths of the Great Recession that we needed to focus on propping up demand, and then once we were out of the woods we could circle back and try to figure out how we got into the mess.

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