Paul Krugman

@paulkrugman ↗

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Last Checked Sept. 29, 2020

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Fri Sep 13 16:09:04 +0000 2019

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Paul Krugman @paulkrugman

But that's not at all what happened. Econ 101 said that slashing spending in a depressed economy was a terrible idea. To justify their actions, policymakers had to *reject* standard macroeconomics and leap onto unorthodox theories 3/ — PolitiTweet.org

Posted Sept. 13, 2019 Hibernated

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Paul Krugman @paulkrugman

If you didn't follow that dispute at the time, you might think that the obsession with budget deficits at a time of mass unemployment was Econ 101, and that new ideas have refuted that case 2/ https://t.co/45VSABylcG — PolitiTweet.org

Posted Sept. 13, 2019 Hibernated

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Paul Krugman @paulkrugman

Instead, policymakers rushed to embrace Alesina and Ardagna, with their doctrine of expansionary austerity, and Reinhart-Rogoff, with their claim of a critical debt threshold at 90% of GDP. These were unorthodox, innovative ideas — and totally wrong 4/ — PolitiTweet.org

Posted Sept. 13, 2019 Hibernated