The Electric Commentary

Tuesday, May 31, 2005

Krugman v. Okrent

Update: Tom Maguire thinks that Okrent could have done better, and offers to help out. Here are a few examples:

(2) What Were Once Bubbles Are Now Baselines - Krugman has fretted
on many occasions about the loss of jobs under Bush. Eventually, even Brad Delong felt obliged to admit that maybe, just maybe, setting the employment baseline at the high-water mark of the tech bubble may not be appropriate. Jon Henke returned to this theme recently when Paul Krugman discovered signs of "stagflation".

(3) Don't Cry For Me, Argentina - Paul Krugman likes to use the phrase "banana
" and compare the US fiscal situation to Argentina. He does not like to remind people that, unlike Argentina or a typical banana republic, almost all of the US debt is denominated in our own currency. We will wave in Brad Delong again to explain the difference.

Marginal Revolution has a round-up of the running debate, as well as commentary. Don't miss Brad DeLong and Don Luskin.


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