Well, he implicitly made the argument. I'm not sure why there is little interest in this idea, except the traditional resistance of intellectuals to new ideas.
The economics of this is of course correct For Paul Krugman is indeed an extremely fine economist: We may live in a market sea, but most of us live on pretty big command-and-control islands, some of them very big indeed. Some of us may spend our workdays like yeoman farmers or self-employed artisans, but most […]
Time-Tested Rules for Life: 1. Paul Krugman is right. 2. If you think Paul Krugman is wrong, consult rule (1). Josh Bivens reminds Mike Konczal reminds me of how out-to-lunch the Obama Treasury was about the macroeconomic situation back...Show More Summary
We need "to scale back the hype" if we ever want to see real economic change
That is the topic of his column today, I had not seen this very good point before: One possibility is that the numbers are missing the reality, especially the benefits of new products and services. I get a lot of pleasure from technology that lets me watch streamed performances by my favorite musicians, but that […]
Why hasn't the digital technological revolution had a bigger impact on productivity?: The Big Meh, by Paul Krugman, Commentary, NY Times:...Everyone knows that we live in an era of incredibly rapid technological change, which is changing everything. But what...
The techno-revolution will not be televised. Paul Krugman takes a walk on his snarky side in Monday's column. Turns out he thinks that the whole technological revolution and its transformative effects on the economy have been exaggerated. Show More Summary
Brad DeLong has a post discussing a debate between Paul Krugman and Roger Farmer: I find myself genuinely split here. When I look at the size of the housing bubble that triggered the Lesser Depression from which we are still suffering, it looks at least an order of magnitude too small to be a key […]
The Obama administration is risking its credibility over the trade deal: Trade and Trust, by Pau Krugman, Commentary, NY Times: One of the Obama administration’s underrated virtues is its intellectual honesty. Yes, Republicans see deception and sinister ulterior motives everywhere,...
The New York Times Most journalists must toil away in 140-character dispatches for years before they manage to accrue a hefty Twitter following. Not so for New York Times columnist Paul Krugman, who had 600,000 followers before he realized his Twitter feed was extant. Show More Summary
There has been no good faith effort to address reasonable concerns from well-intentioned critics
[Over at Equitable Growth] I have two things I want to say this morning. First, Amtrak wifi really is c---, isn't it? Second, I think that Paul Krugman gets one thing wrong here, in his talk of "the right" and macroeconomic policy... Show More Summary
Economists who don't understand where the vast majority of 'money' comes from (Paul Krugman has admitted that he can't recognize this ) are like heart surgeons who have only ever attended dental school. They didn't spot the onset ofShow More Summary
1. For a guy who has been right about everything, Paul Krugman sure is wrong about an awful lot of things. Bob Murphy has an excellent new post which digs up lots of Krugman claims that turned out to be somewhat less then correct. Krugman, armed with his Keynesian model, came into the Great Recession […]
This, from Paul Krugman, is sort of a setup for the post below this one: Conservatives and Keynes:...the debate over business-cycle economics has always been a left-right thing. Specifically, the right has always been deeply hostile to the notion...
Paul Krugman addressed the question of whether the decline in manufacturing employment can be attributed to the trade deficit. He rights points out that most of the decline is due to productivity growth, but notes the trade deficit has been a contributing factor. Show More Summary
"The Iraq war wasn’t an innocent mistake": Errors and Lies, by Paul Krugman, Commentary, NY Times: Surprise! It turns out that there’s something to be said for having the brother of a failed president make his own run for the...
The war was no mere mistake: The Bush administration wanted a war and concocted the intelligence. "Mistakes were made" just doesn't get at the truth about how America was coerced into the disastrous war in Iraq,and the horrific consequences that are still unfolding. Show More Summary
Paul Krugman at The New York Times writes Errors and Lies: Surprise! It turns out that there’s something to be said for having the brother of a failed president make his own run for the White House. Thanks to Jeb Bush, we may finally...Show More Summary
W. didn't make the best decision he could with the intelligence. They wanted a war and created the intelligence