Paul Krugman

@paulkrugman ↗

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Last Checked Dec. 11, 2020

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Sat Dec 14 17:36:17 +0000 2019

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Paul Krugman @paulkrugman

But a large part of the profession insisted that because rational individuals wouldn't have any money illusion, it must not exist, so monetary policy must be useless (and let's not even get into fiscal policy). And this view gained a stranglehold over many journals 4/ — PolitiTweet.org

Posted Dec. 14, 2019 Hibernated

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Paul Krugman @paulkrugman

This implied, among other things, that increasing the money supply could have real effects, boosting the economy in a slump rather than just causing inflation. And it was a view supported by a lot of evidence 3/ — PolitiTweet.org

Posted Dec. 14, 2019 Hibernated

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Paul Krugman @paulkrugman

I think its influence has waned recently, although it's hard to be sure, since nobody in that camp ever admits being wrong about anything. But anyway, it's fascinating to see that the price of streamed music has stayed flat for many years 5/ https://t.co/K4ylf8fQjV — PolitiTweet.org

Posted Dec. 14, 2019 Hibernated