Paul Krugman

@paulkrugman ↗

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Last Checked Oct. 26, 2021

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Sat Sep 04 14:00:49 +0000 2021

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Paul Krugman @paulkrugman

Two points I'd like to clarify. As some point out, Hayek eventually endorsed monetary stimulus in a depression. But he was very much a liquidationist in the 1930s, which is when it mattered 2/ — PolitiTweet.org

Posted Sept. 4, 2021

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Paul Krugman @paulkrugman

Responses to this confirm something I've observed before: nothing gets people angrier than monetary theory. Say that Trump is a traitor and they yawn; say that fiat money works and they scream incoherently 1/ https://t.co/UDNGnFxdMs — PolitiTweet.org

Posted Sept. 4, 2021

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Paul Krugman @paulkrugman

Second, some object to my grouping Hayek with Schumpeter, because they had different stories about overinvestment: Schumpeter emphasized innovation, Hayek loose money. But that misses the point 3/ — PolitiTweet.org

Posted Sept. 4, 2021