Paul Krugman

@paulkrugman ↗

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Last Checked Sept. 2, 2020

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Sun Aug 02 17:41:21 +0000 2020

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Paul Krugman @paulkrugman

More generally, unemployment benefits might raise workers' reservation wages — the wages they demand to take jobs. But higher wages in the economy as a whole don't directly reduce employment, as Keynes explained long ago 5/ https://t.co/FOvVcY1qDC — PolitiTweet.org

Posted Aug. 2, 2020

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Paul Krugman @paulkrugman

But even if it were happening, we have 30 million workers receiving benefits and only 5 million job vacancies. What jobs would workers take if they wanted to work? 4/ — PolitiTweet.org

Posted Aug. 2, 2020

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Paul Krugman @paulkrugman

They only matter if you have a fixed money supply or if the central bank is worried about inflation, neither of which is remotely the case right now 6/ — PolitiTweet.org

Posted Aug. 2, 2020