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Paul Krugman

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Paul Krugman’s Economic Blinders. Paul Krugman is widely appreciated for his New York Times columns criticizing Republican demands for fiscal austerity.

Paul Krugman’s Economic Blinders

He rightly argues that cutting back public spending will worsen the economic depression into which we are sinking. And despite his partisan Democratic Party politicking, he warned from the outset in 2009 that President Obama’s modest counter-cyclical spending program was not sufficiently bold to spur recovery. Krugman. Businessweek Opinions-of-Shape-of-Earth-Differ Journamalism: Paul Krugman Edition. Here is his January 2009 root-and-branch opposition to the Recovery Act: Oliver Staley and Michael McKee: John Cochrane, a finance professor at the Booth School of Business at the University of Chicago, said that while [James] Tobin made contributions to investing theory, the idea that spending can spur the economy was discredited decades ago.

Businessweek Opinions-of-Shape-of-Earth-Differ Journamalism: Paul Krugman Edition

“It’s not part of what anybody has taught graduate students since the 1960s,” Cochrane said. “They are fairy tales that have been proved false. It is very comforting in times of stress to go back to the fairy tales we heard as children but it doesn’t make them less false.” Paul Krugman: Keynes Was Right.