Thursday, November 26, 2020

Tag: Paul Krugman

Paul Krugman, the Federal Reserves and the Fatal Conceit of Keynesian Economics

by Peter Schiff, Schiff Gold:

A recent Paul Krugman New York Times column praised the success of the Keynesian macro model in the wake of the 2008 financial crisis. In his view, the Federal Reserve did exactly what was necessary  – pushed interest rates to zero and launched rounds of quantitative easing to jumpstart demand. As Tom Woods and Bob Murphy put it in a recent episode of the Contra Krugman podcast, “we agree that Krugman’s model did great…if we overlook all the times it blew up in his face.”