Tag Archive: John Maynard Keynes

The Costs of Austerity

Federal spending has now been flat for several years. Discretionary spending has been cut. Quantitative easing has been ended. According to every Keynesian on the planet, we should be a in a recession right now.

Oops.


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Krugman Chugs Keynsian Kool-Aid

Yesterday, we joked on Twitter that Krugman would say that the earthquake wasn’t “big enough”. Sure enough, someone put up a fake Paul Krugman profile on Google+ making that argument. Krugman has distanced himself from the idea (although a number of his followers agreed with the comment). But let’s remember who we’re dealing with. Here is Krugman on September 14, 2001 arguing that 9/11 would simulate the economy, especially by eroding resistance to counter-cyclical spending. … Read more