Paul Krugman

@paulkrugman ↗

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Last Checked Feb. 7, 2021

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Sat Jan 16 12:12:19 +0000 2021

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Paul Krugman @paulkrugman

To the extent that the Very Serious People relied on economists at all, they cited ideas about expansionary austerity and red lines for debt that were actually heterodox — and have since been discredited 2/ — PolitiTweet.org

Posted Jan. 16, 2021

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Paul Krugman @paulkrugman

Thread. The rush to austerity in 2010 was NOT policymakers responding to the best available analysis. Standard macroeconomics said that it was a terrible idea; people like Simon and, yes, me tried desperately to head it off 1/ — PolitiTweet.org

Mixed emotions about the FT mea culpa. https://t.co/Q0wQBCQ8Ld “That consensus can be wrong was on display after th… https://t.co/32qrvjReUs

Posted Jan. 16, 2021

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Paul Krugman @paulkrugman

So claiming that the push for austerity was based on advice from economists, who have since changed their minds, is an evasion of responsibility. VSPs, including the FT, chose to ignore the mainstream and go with the economic equivalents of Scott Atlas 3/ — PolitiTweet.org

Posted Jan. 16, 2021