Tuesday, August 16, 2011
Krugman on MMT.
I have far more respect for Krugman that for some of the time wasters who claim to be professors of economics – Rogoff and Martin Friedman for example. However, there is just one little nit I’d like to pick with Mr K.
In reference to MMTers he says “I’m not clear on whether they realize that a deficit financed by money issue is more inflationary than a deficit financed by bond issue.” Well thanks Mr K., I’m well aware - e.g. see my last paragraph here.
And from November last year, see here (see paragraph under the para in red). Coincidentally, the latter post deals with some of Martin Feldstein’s nonsense.