paul krugman

Games Economists Play

21 April 2013

The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists. – Joan Robinson, 1955, “Marx, Marshall And Keynes”, Occasional Paper No. 9, The Delhi School of Economics, University Of Delhi, Delhi. It is fun to watch what economists have to say after [...]

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“It’s remarks like that which explain why people hate economists!”

1 April 2013

A lot of heterodox economists are sympathetic to Paul Krugman because he seems to have argued for fiscal expansion. Ha! First, we are in this mess because of people like Paul Krugman who has promoted free trade – which has been destructive to the world economy as a whole and has prevented debtor nations from [...]

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A Quiz On National Accounts

12 July 2012

In the following video, CNBC irritates Paul Krugman to argue against government spending which provoked Krugman to write a blog post Zombies On CNBC Krugman is asked – how high can government expenditure go – 100%? Okay two theoretical questions which are purely theoretical – nothing much to do with the discussion above. Can government [...]

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Not In His Lifetime, Says Krugman :(

10 July 2012

Paul Krugman was in Spain recently. In this video which has a lot of discussion on the European crisis, Krugman says that the ideal solution for the Euro Area will be federal but doesn’t hope to see it in his lifetime unless advances in medical sciences is made which will make him live longer. (Time: 1:22:36) [...]

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End This Depression Now!: Amy Goodman Interviews Paul Krugman

17 May 2012

Worth your time. Krugman interview starts at 24:00

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Open Mouth Operations

5 April 2012

In the previous post Is Paul Krugman A Verticalist?, I discussed the confusions economists and market commentators have on open market operations. Even top economists such as Krugman suffer from confusions on central banking and monetary matters. I also mentioned the work of Alfred Eichner on bringing out more clarity on the defensive nature of [...]

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Is Paul Krugman A Verticalist?

31 March 2012

24 years back, Basil Moore wrote a book Horizontalists And Verticalists: The Macroeconomics Of Credit Money (Cambridge University Press, 1988) which begins like this: The central message of this book is that members of the economics profession, all the way from professors to students, are currently operating with a basically incorrect paradigm of the way modern [...]

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Krugman, Wolf And Goodhart

25 November 2011

Paul Krugman has a blog  post today titled Death By Accounting Identity, commenting on Martin Wolf’s FT Article Why cutting fiscal deficits is an assault on profits, where Wolf talks about the sectoral balances identity made famous by Wynne Godley. I guess the better way to put it is that Martin Wolf is trying to make the [...]

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