Paul Krugman

@paulkrugman ↗

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Last Checked April 13, 2021

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Wed Mar 17 13:13:46 +0000 2021

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Paul Krugman @paulkrugman

Anyway, the whole debate over ARPA was in effect conducted in terms of functional finance — not whether it cost too much, but whether it was inflationary. But that's not so much new theory as taking our own models seriously 10/ — PolitiTweet.org

Posted March 17, 2021

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Paul Krugman @paulkrugman

Someone will bring up MMT. After all this time, I still don't know what it is beyond functional finance — every time you try, you're told that you don't get it, and at this point I think it's mainly a marketing ploy. So never mind 9/ — PolitiTweet.org

Posted March 17, 2021

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Paul Krugman @paulkrugman

The other big change — and this does mark a change in theory — is that the NAIRU has largely dropped out of discussion — basically because nothing that's happened since 1985 supports an "accelerationist" view of inflation 11/ — PolitiTweet.org

Posted March 17, 2021