Who is serious now krugman

We absolutely insist on this stuff. If you want a bill to pass, then you need to protect those already unemployed. You need to deliver benefits even to low-income families. You need to provide paid sick leave. So, I mean, if any two subjects demand technical expertise, epidemiology in a public-health crisis or macroeconomics in a financial crisis stand out.

But instead we get this purely political battle, without any useful policy debate. Zombie ideas, as described in your book, still shamble along years after we thought real-world outcomes had buried them trickle-down economic models come to mind.

So at this point, can you already extract some classic zombie ideas stitched into the Coronavirus Aid, Relief, and Economic Security Act? Or is this entire act built on a foundation of zombie ideas? Or is it still too soon for the zombies to come out? You have this blanket dismissal of some supposed liberal hoax. Similarly, with the financial response and again, even with COVID moving a hundred times faster than typical crises , Republicans still started off by proposing more tax cuts.

And that familiar Republican fixation at first seemed like it might lead to a fundamentally unacceptable package: with low-income families basically getting nothing, with millions of people who just lost their jobs basically getting nothing.

The zombies got beaten back on this one — or at least got beaten 80 percent back. This bill definitely contains some corporate welfare. Your own academic research of course converged quite seamlessly with pressing concerns brought about by the financial crisis — with similar dynamics now coming to the fore again much faster than most of us would have anticipated. Certain repeated mistakes for example, failure to redistribute more and to build out resiliency while we had sustained economic growth already seem clear.

So could you offer a couple key concepts or models, perhaps still ensconced in more technical domains, that can put a broadly informed public on a quick learning curve for thinking through whatever most momentous medium-term policy questions we now might face? Does the medium term just mean weeks at this point?

So how precisely to explain, for example, why, in times of war, we almost inevitably see governments adopt centralized control over key resources? We probably have good reason not to do that.

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Log out. Singh, Gurbachan, Political business cycles : the political economy of money, inflation, and unemployment ; a Pacific Research Institute for Public Policy book.

Willett, Thomas D. Delivering economic stimulus, addressing rising public debt and avoiding inflation. Wood, Richard, Banking crises, liquidity, and credit lines : a macroeconomic perspective. Gurbachan Singh, Other former Krugman victims still blame him for his misjudgments and are not so assuaged by his penitence. But there were deeper conceptual problems with the pro-globalization consensus as well. Labor market adjustment miraculously happened costlessly.

This was, I now believe, a major mistake—one in which I shared a hand. But there were plenty who did pay attention to how the old verities about open trade and comparative advantage were no longer as telling, displaced by new trends such as global supply chains, which shifted huge numbers of jobs overseas and took out whole communities. That in turn has forced the rethinking of another major dimension of traditional economics.

Economists once believed that low unemployment led to inflation, but today that relationship, called the standard Phillips curve, has broken down, the Economist wrote in a recent cover story.