Senior Fellow John Goodman: Krugman’s Friday column was about macroeconomics, a field in which he has been spectacularly wrong in recent years. Going into 2013, we had significant fiscal retrenchment (large tax increases and spending cuts) and monetary expansion. Krugman predicted a collapse in economic growth and said 2013 would be a test of the validity of his own brand of Keynesian economics”versus market monetarism. What happened? The economy performed better in 2013 than it did the previous year.
Posted on: Sat, 04 Oct 2014 22:00:01 +0000
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