Paul Krugman

@paulkrugman ↗

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Last Checked Jan. 19, 2021

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Sun Dec 27 17:07:27 +0000 2020

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Paul Krugman @paulkrugman

Wait, there's more. While I'm optimistic for the 2nd half of 2021, there's good reason to believe that the economy was suffering from persistent weakness of demand pre-pandemic. It's called secular stagnation, an idea pushed by ... Larry Summers. 8/ — PolitiTweet.org

Posted Dec. 27, 2020

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Paul Krugman @paulkrugman

And everything we've seen over the past 20 years says that the short-run Phillips curve is pretty flat — that is, low unemployment pushes inflation up very slowly. So the inflation risks if the economy runs somewhat hot for a year are small 7/ — PolitiTweet.org

Posted Dec. 27, 2020 Hibernated

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Paul Krugman @paulkrugman

In a secstag economy you actually want the government pushing up demand with deficit spending, even when there isn't a crisis. Better if that spending takes the form of public investment, but as with extended UI, that's not on the table right now 9/ — PolitiTweet.org

Posted Dec. 27, 2020 Hibernated