Krugman

Archive for Krugman

One More On Krugman and Predictions

I am not sure everyone fully got my point about Krugman in this last post. Look, Krugman has been absolutely apoplectic the last 3 years, jumping up and down on his blog, complaining that the press and public keep taking seriously the people who have “gotten everything totally wrong” in the crisis. He keeps lamenting […]

Krugman Judges People on Their Record

The average person on the Internet can’t hold more than 2 thoughts simultaneously, but I think Free Advice readers are above average. I have to go pack for my trip, so let’s see if you can divine my point in this post: (1) Today Krugman returns to a familiar theme: Joe Weisenthal is wrong. He […]

It’s Monday, So Krugman Thinks Labor Costs Hurt Employment

Commenter “Xan” draws our attention to today’s post from Krugman, in which he writes: A commenter on my last euro post asks a good question: didn’t Germany once have a problem of excessive unit labor costs, which it cured with a protracted squeeze? And in that case, why is it so terrible if Spain is […]

Krugman: High Deficits Are Due to Either a Depression or a Recovery, But Never to My Policies

I keep waiting for time to “do this justice,” but that’s not going to happen. So let me quickly make my point: I was flabbergasted a couple of weeks ago to read Krugman dismiss the CBO report on the budget outlook in this way: Yesterday the CBO came out with its updated budget outlook — […]

Even More Thoughts on the Minimum Wage

I am still in a mild state of shock that so many professional economists apparently doubt that demand curves slope downward. I admit upfront that I have not spent more than an hour or so looking through the latest literature reviews on the topic. Nonetheless, I remain unrepentant: I think increasing the price of unskilled […]

I Get Empirical on Minimum Wage

So Paul Krugman et al. are telling us that the empirical literature shows that minimum wage laws don’t have a discernible impact on teen unemployment. Yet another right-winger myth flushed down the toilet. I went and looked at the paper Krugman says documents this fact. I was a little concerned because it seemed to be […]

Two Views on Minimum Wage Hikes

(This post is taken from the heavy lifting David R. Henderson performed.) Here’s an economist talking about the textbook view of the minimum wage, and how we should take the (in)famous Card & Krueger results with a grain of salt: So what are the effects of increasing minimum wages? Any Econ 101 student can tell […]

Paul Krugman’s Eyes Are Smiling

In this post, Krugman takes Marco Rubio to task for claiming that government deficits crowd out private investment. Amongst his points, Krugman produces the following scatter plot: …and then comments, “Contractionary policy has proved contractionary.” Wait a second. Look at that chart. Even on its own terms, it’s not nearly as obvious as Krugman makes […]