Economics Questions

Re: Krugman actually says something truthful?

ViennaSausage — Tue, 27 Jul 2010 23:52:33 GMT

"My prediction is that politicians will eventually be tempted to resolve the [fiscal] crisis the way irresponsible governments usually do: by printing money, both to pay current bills and to inflate away debt. And as that temptation becomes obvious, interest rates will soar"

This makes me wonder how many times Krugman contradicted himself.

Re: Krugman actually says something truthful?

ViennaSausage — Tue, 27 Jul 2010 23:32:25 GMT

The truth would be that macro vs. micro is a false dichotomy.

Absolutely:).

Re: Krugman actually says something truthful?

Sieben — Tue, 27 Jul 2010 20:43:33 GMT

If only they could get supply and demand right..

Re: Krugman actually says something truthful?

TheNcredibleEgg — Tue, 27 Jul 2010 20:21:25 GMT

Krugman also said in November, 2004:

"My prediction is that politicians will eventually be tempted to resolve the [fiscal] crisis the way irresponsible governments usually do: by printing money, both to pay current bills and to inflate away debt. And as that temptation becomes obvious, interest rates will soar."

A very true and prescient statement by Krugman. Of course, today, now that it's happening under a Democrat, he doesn't seem to say it anymore.

Re: Krugman actually says something truthful?

Caley McKibbin — Tue, 27 Jul 2010 19:37:15 GMT

The truth would be that macro vs. micro is a false dichotomy.

Krugman actually says something truthful?

ViennaSausage — Tue, 27 Jul 2010 19:34:30 GMT

"The general understanding that macroeconomics is more than supply and demand plus the quantity equation — somehow got lost in much of the profession."

(It's from an old article, but found it hilarious coming from Krugman."