Krugman

Archive for Krugman

Applying Krugmanian Lessons to the 1990s

Poor Alex Tabarrok. He makes a simple blog post, pointing out the hilarious heads-we-win-tails-you-lose stance of Krugman et al., and the targets of his critique focus on something completely incidental. I will probably muddy the waters myself by focusing on the “incidental” part of his post, but so be it. First, though, let’s review: 1) […]

Krugman’s Botched Inflation Call and Scary Other-Country Reference

Ideally someone else would make this post, since it will seem petty and defensive coming from me, but sometimes you look inside yourself and realize that you are the only one who can get the job done. Anyway, I think it’s fair to say that Paul Krugman has been running around for a good two […]

Two Views of R&R

[UPDATE below. Make sure you read that if you are just now stumbling upon this post.] Man, Reinhart and Rogoff are getting hammered by the Keynesians lately. First of all, you’ve got commentators (here’s but one example of many) who are making it sound like all the “austerity” the last 3 years was due to […]

Heads Krugman Wins, Tails Austerians Lose

Man I am just really down lately, because the great experiment in European austerity has proven to be a disaster for “my side” of the debate. You had all these austerians predicting that the way to reassure bond markets and get yields down on fiscally suspect European nations was to make bold promises about reform. […]

Believing Is Seeing, Part II

“Lord Keynes” provided the most beautiful confirmation possible in the comments of my recent post. Recall that I had teased a guy for simply assuming the Keynesian theory was correct, when interpreting the economic statistics. Lord Keynes upbraided me: As opposed to your last post, where the data strongly confirms the Keynesian story, but not […]

Why Economists Will Soon Be Lynched

I am going to accelerate my transition into stand-up comedy, because the public is going to turn on economists very, very soon. Look at this: 1) Krugman argues that severe US fiscal austerity explains our dismal economic growth. 2) I say no, there hasn’t been fiscal austerity. In fact, we have record-high spending, and that […]

Why “Potential GDP” Loads the Keynesian Deck

Krugman is back to his oh-so-objective presentation of the facts, which smuggle in the Keynesian policy prescriptions: There is some tendency among economic commentators to think that austerity policies in a deeply depressed economy are mainly a European thing; you even find a fair number of people imagining that the United States is still engaged […]

THE ZOMBIE RETURNS! Woods-Murphy Live in NYC, June 8

Oh my, Tom and I are cooking up…something wonderful. This is one artist’s rendition of the phenomenon: Here’s Tom’s main event page, here’s the Facebook event page, and here is where you get tickets. If you know you’re going–and unless your wife will be in labor, why would you miss this?–act now, because special discount […]