Paul Krugman in the New York Times. So why is Spain — along with Italy, which has higher debt but smaller deficits — in so much trouble? The answer is that these countries are facing something very much like a bank run, except that the run is on their governments rather than, or more accurately [...]
Paul Krugman
The deficit we imagine vs. the deficit we have
The New York Times is reporting on the deficit and debt ceiling fight that is happening right now. Eventually, the country will have to confront the deficit we have, rather than the deficit we imagine. The one we imagine is a deficit caused by waste, fraud, abuse, foreign aid, oil industry subsidies and vague out-of-control [...]
There was no stimulus
i was just looking at Paul Krugman’s blog and points out that the stimulus never really happened. What’s extraordinary about all this is that stimulus can’t have failed, because it never happened. Once you take state and local cutbacks into account, there was no surge of government spending. Here’s total (all levels) government spending over [...]
Is China headed towards an economic crisis
Paul Krugman thinks so With efforts to cool the economy falling short, China has been trying to limit inflation with price controls — a policy that rarely works. In particular, it’s a policy that failed dismally the last time it was tried here, during the Nixon administration. (And, yes, this means that right now China [...]
England of 2011 will like like England of 1931
Stinging critique of David Cameron’s deficit fighting by Paul Krugman Both the new British budget announced on Wednesday and the rhetoric that accompanied the announcement might have come straight from the desk of Andrew Mellon, the Treasury secretary who told President Herbert Hoover to fight the Depression by liquidating the farmers, liquidating the workers, and [...]
Paul Krugman
The New Yorker has a great profile on New York Times columnist and Nobel Prize winner, Paul Krugman Their apartment in New York is in the same neighborhood as both Jeffrey Sachs’s and Joseph Stiglitz’s, but since they bought it, a few years ago, they haven’t seen either of them. Krugman doesn’t get out much, [...]
How did economists miss the 2008 recession?
Paul Krugman asks what went wrong. In recent, rueful economics discussions, an all-purpose punch line has become “nobody could have predicted. . . .” It’s what you say with regard to disasters that could have been predicted, should have been predicted and actually were predicted by a few economists who were scoffed at for their [...]
More Stimulus?
Paul Krugman feels we need a bigger stimulus package. Since the recession began, the U.S. economy has lost 6 ½ million jobs — and as that grim employment report confirmed, it’s continuing to lose jobs at a rapid pace. Once you take into account the 100,000-plus new jobs that we need each month just to [...]
