A Picture for Krugman
“The lights are going out all over America—literally.” So begins Paul Krugman’s latest NY Times column, in which he laments the crumbling of America’s foundations. The proximate cause of this decline,...
View ArticleWhy RBC is Awesome
Paul Krugman disses RBC theory and those who study it as unscientific. I’m not an RBC theorist, but I’ll stick up for freshwater macro. Here are some reasons why RBC theory deserves more respect than...
View ArticleForensic Semantics: The Meaning of Liquidity Trap
I promise not to do too many more posts about a) macro or b) Paul Krugman. I don’t just love macro, these are not my most popular posts, and Krugman is too shrill to read on a regular basis....
View ArticleFinite and Infinite Games
I recently read Finite and Infinite Games, by James Carse, poolside while on vacation. Excerpt: Seriousness is always related to roles, or abstractions. We are likely to be more serious with police...
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