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Tag Archives: Paul Krugman
Krugman Doesn’t Understand IS-LM, Part 2
by Steve Keen, Debunking Economics Read Part 1. Krugman’s explanation of our crisis today is straight from the pages of John Hicks’ (pictured) 1937 explanation of the Great Depression (though curiously, Hicks himself didn’t mention the actual state of the … Continue reading
Posted in macroeconomics
Tagged Debt Watch, IS-LM curves, John R Hicks, keynes, micro foundations of macro, Paul Krugman, steve keen
2 Comments
Krugman Doesn’t Understand IS-LM, Part 1
by Steve Keen, Debt Watch Read Part 2. Krugman describes himself as a “sorta-kinda New Keynesian” (Krugman 2012, p. 104), and explains in End This Depression NOW! (Krugman 2012) that New Keynesian macroeconomics evolved in reaction to the failure of the … Continue reading
Posted in macroeconomics
Tagged Debt Watch, IS-LM curves, John R Hicks, keynes, micro foundations of macro, Paul Krugman, steve keen
4 Comments
The Myth of Austerity
by Philipp Bagus, Mises.org Many politicians and commentators such as Paul Krugman claim that Europe’s problem is austerity, i.e., there is insufficient government spending. The common argument goes like this: Due to a reduction of government spending, there is insufficient … Continue reading
Posted in Economics, Eurozone, GDP
Tagged austerity, Economy, Europe, Eurozone, fiscal crisis, GDP, Heinrich Brüning, inflation, Mises.org, Paul Krugman, Philipp Bagus, recession, Spain
2 Comments
The Great Debate©: Keen and Krugman on Money and Banking
by Steve Keen, Debtwatch with extensive quotations from Paul Krugman Editor’s note: There has been an ongoing exchange between Steve Keen and Paul Krugman over the way that money and banking should be accounted for in the macroeconomy. Between spurts of … Continue reading
Posted in Banking News, Great Debate©, macroeconomics, money
Tagged banking, money, Paul Krugman, ptolemy, steve keen
4 Comments
A Primer on Minsky
by Steve Keen, Debt Watch Editor’s Note: This is the article that started the recent “Keen-Krugman War.” We will post more on this important economic discussion in the coming days. My paper “Instability in Financial Markets: Sources and Remedies” for … Continue reading
Posted in macroeconomics, money
Tagged economic disequilibrium, Fisher, Hyman Minsky, keynes, money, Paul Krugman, steve keen, Walras
5 Comments
The Great Debate©: Will the U.S. Mirror Japan?
by Guest Author Robert Huebscher, Advisor Perspectives Larry Summers (left) and Paul Krugman (right) may share ideological leanings, but they disagree sharply about our economic prospects. Both agree that political gridlock is responsible for the failure to grow our economy, … Continue reading
