Tuesday, January 10, 2017

Ellis Winningham — Deficits Matter, Paul Krugman Doesn’t

Okie dokie. So, I awoke somewhere around 4:15 am to finish tearing into Krugman’s latest drivel, when I discovered that Bill Mitchell beat me to the punch. Good deal. I’ve spent some time this morning re-writing my article so that Krugman takes a hit on two fronts: Mitchell knocks him down, and I kick him….
Ellis Winningham — MMT and Modern Macroeconomics
Deficits Matter, Paul Krugman Doesn’t
Ellis Winningham

5 comments:

Penguin pop said...

Haha! Count Krugula. I love that. Accurate name for the guy.

Matt Franko said...

Wait a minute... do deficits matter now? I thought deficits didn't matter? Wait... never mind....

Bob said...

Krugman is so partisan he's predictable.

Andrew said...

The problem with "deficits matter" is that we don't know that they do. Sure, they might in some cases, but not in others. To assume that deficits over some number will generate inflation is a simple theory. Whether the theory holds depends on lots of factors, some we might not even understand. Trotting this out over and over isn't helpful and smacks of Kwak's economism.

Random said...

Deficits are ex post. Spending matters.