More on the blog than in the column, I follow research. When there’s new papers, that can be helpful. The ideas evolve, too. I wasn’t thinking much about the importance of having your own currency at first. I learned about that a couple of years into this Don Quixote role—some mixture of Don Quixote and Cassandra. One thing about Cassandra is that she was always right. A lot of what I’ve been doing is telling people they’re about to make a terrible mistake, watching them make the mistake, and then saying, “See, you made a terrible mistake.”Bloomberg Businessweek
How to Beat a Dead Horse
Paul Krugman | Professor of Economics, Princeton University\
(h/t Dan Lynch on FB)
2 comments:
He should credit the MMT folks, and perhaps apologize...
It's interesting that Krugman tends to acknowledge Cullen Roche for his discovery of the importance of the government as "issuer of the currency." Roche, of course, got it as received wisdom from MMT before he started taking a different line.
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