Krugman and Keynes "In the long run we are all dead."
Paul Krugman, Nobel Prize-winning economist has a book out "End This Depression Now" and it is an interesting read. Krugman says long term unemployment is caused by macroeconomic events (Krugman's field of expertise) and policy failures. He lays out a case for how things are and how we can get out of the mess we are in. But ideologues on the right hate him so much it is difficult to talk common sense with civility and purpose. without ending up defending Krugman against all sorts of personal attacks and bs.
Economists know the price of everything and the value of nothing.Krugman wrote "economists study the circulation of money, and the production and consumption of stuff"
On focusing on the long run and not the short run regarding unemployment and the economy.
"This long run is a misleading guide to current affairs. In the long run we are all dead." - John Maynard Keynes
These austerity people need to be thrown under the next bus.
Paul Krugman, Nobel Prize-winning economist has a book out "End This Depression Now" and it is an interesting read. Krugman says long term unemployment is caused by macroeconomic events (Krugman's field of expertise) and policy failures. He lays out a case for how things are and how we can get out of the mess we are in. But ideologues on the right hate him so much it is difficult to talk common sense with civility and purpose. without ending up defending Krugman against all sorts of personal attacks and bs.
Economists know the price of everything and the value of nothing.Krugman wrote "economists study the circulation of money, and the production and consumption of stuff"
On focusing on the long run and not the short run regarding unemployment and the economy.
"This long run is a misleading guide to current affairs. In the long run we are all dead." - John Maynard Keynes
These austerity people need to be thrown under the next bus.