Friday, September 30, 2011

Martin Wolf gets it; why not Paul Krugman?

Martin Wolf is the chief economics commentator at the Financial Times and is one of the most influential economics writers in the world. He’s no radical for sure but today’s article entitled “Time to think the unthinkable and start printing again” could have been written by Abba Lerner himself. It completely debunks the accepted wisdom that we need austerity, that we’re tied to the whims of the financial markets, and that government deficits are some dire problem....
Read the whole post at Comments on Global Economic Policy, Martin Wolf gets it; why not Paul Krugman?


Matt Franko said...

Wolf does not suffer from a certain form of discalculia.


JKH said...

Somebody more scholarly than me may want to inform Adam Posen (author of the linked article) that the originator of the term “Austerian” was not Paul Krugman, but Rob Parenteau.

Maybe correct him on a few misconceptions he has about QE at the same time.


Page 8:


Matt Franko said...

Rob P. never gets any (much deserved) credit by mainstream/more-read people. His analysis of the European situation is stellar imo (it has really helped me at least to see what is really going on over there)... and he was on this years ago now...

what is in the water up there? ;)


Ralph Musgrave said...

My favourite Martin Wolf quote: “The essence of the contemporary monetary system is creation of money, out of nothing, by private banks' often foolish lending.”