Paul Krugman

@paulkrugman ↗

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Last Checked April 13, 2021

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Wed Mar 17 13:00:04 +0000 2021

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Paul Krugman @paulkrugman

One thing people should realize, however, is that policy orthodoxy in, say, 2011 did NOT reflect macroeconomic orthodoxy in the sense of what the standard models said. In crucial areas it was in flat defiance of what Macroeconomics 101 would have recommended 3/ — PolitiTweet.org

Posted March 17, 2021

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Paul Krugman @paulkrugman

The ARPA definitely marks a big break with the austerity/debt obsession that crippled recovery after the 2008 crisis. That's a very big deal. And even the debate over the bill was very different from what went before 2/ — PolitiTweet.org

Posted March 17, 2021

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Paul Krugman @paulkrugman

It was actually quite weird: there was a lot of innovative, creative economic analysis — all of which turned out to be dead wrong — being deployed FOR austerity, which conventional macro rightly said was a really bad idea 4/ — PolitiTweet.org

Posted March 17, 2021