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Krugman: Government Spending Surged If It Helps My Case, Otherwise It’s a Dirty Right-Wing Myth

I am really busy with work deadlines, so not much blogging for another two weeks or so. But in the meantime, I wanted to point something out, though I don’t have time to buttress my claims with links. Here is my observation: Paul Krugman will say that government spending has surged under Obama (and Bernanke [...] [...]

Thoughts on Marco Rubio and the Age of the Earth

Hold on to your hats, kids, I think I will alienate 95% of the blogosphere with this one (and without even cursing)… Marco Rubio has been getting hammered in the blogosphere from both right and left for his coy answer when a GQ interviewer asked him about the age of the Earth. The irony is, [...] [...]

Krugman Ignores His Own Theory and Misses An Important Piece of European History

This whole “what danger is there for a country issuing its own currency?” argument is really slippery. First of all, what these people really mean is, “What danger is there for a country issuing its own currency and in which most of its debts are denominated in this currency?” I.e., even on their own terms, [...] [...]


==> Nick Rowe agrees with me that Steve Landsburg’s analysis of paying down government debt is only true if we assume perfect certainty. (Steve I think would totally agree, and that’s why I said in my original post that this was an argument over specifying assumptions for the reader, not about the implications of those [...] [...]

Yes Gene, Keynesians *Do* Focus on Consumption More Than Investment

Gene Callahan is mystified: So, I’m teaching Keynesian economics for the second time. And once again, I’m telling my students that, per Keynesians, recessions occur when intended investment falls short of savings. And the best way to fix this, per Keynesians, is for the government to invest in roads, bridges, parks, education, etc. I’m fine [...] [...]