krugman.blogs.nytimes.com - 7/7/2009
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The paradox of thrift is one of those Keynesian insights that largely dropped out of economic discourse as economists grew increasingly (and wrongly) confident that central bankers could always stabilize the economy. Now it's back as a concept. But is it actually visible in the data? The answer ...
tvhe.co.nz - 7/8/2009
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tvhe.co.nz —
Paul Krugman has just mentioned that the “paradox
of thrift” has shown up in the data ....
Now my opinion has moved over time , and I do think that the US is now experiencing a paradox of thrift – but his evidence appears to have nothing to do with this. I believe that we are ...
(more)
Careful with the paradox of thrift
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Scared to Say It, but I Think Paul Krugman is Wrong
EconomPic —
I don't tell Nobel Laureate economists (and one I have GREAT respect for) that they are wrong often / ever, but I think Paul Krugman's post regarding the paradox of thrift may be off. While I agree that the paradox of thrift does pose a threat, I don't believe the data he shows properly reflects what he thinks it does. First, I'll let Paul summarize what the paradox of thrift is: ...
Careful with the paradox of thrift
The visible hand in economics —
Paul Krugman has just mentioned that the “paradox of thrift” has shown up in the data. Now my opinion has moved over time, and I do think that the US is now experiencing a paradox of thrift – but his evidence appears to have nothing to do with this.
I believe that we are hitting a “paradox of thrift” as unemployment in the US is at 9.5% and rising – that is a hell of a lot of wasted labour input, and implies to me that there is a large failure in the labour market reducing national output. As a result, if ...
links for 2009-07-09
J. Bradford DeLong's Grasping Reality with All Eight Tentacles —
... Paul Krugman: The paradox of thrift — for real
Radley Balko: Andy McCarthy of National Review Cheers on the Commies
James Hamilton: ...
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