Tag: Paul Krugman

Policy Unpacked #4 – Rethinking post-crash economics

Since the Global Financial Crisis questions have been asked about the adequacy of dominant approaches to economic analysis. Are they sufficient to help us understand the economy or do they need supplementing or reformulating? This is an important question for policy not simply because of the debate over […]

The intolerance of uneconomic economics

Over the last couple of days two of the big beasts of the economics blogosphere have offered views on a question of considerable significance for the field of macroeconomics. On Friday Simon Wren-Lewis discussed whether New Keynesians made a Faustian pact when they decided to engage new classical […]

The reopening of the economic mind?

Where is the revolutionary thinking in economics? That was one of the first questions posed by a speaker at the Festival of Economics held last weekend in a very damp Bristol. It is also one of the most pressing and the most intriguing. I was among the hardy […]

On knowing what’s going on

Leading active members of today’s economics profession … have formed themselves into a kind of Politburo for correct economic thinking. As a general rule—as one might generally expect from a gentleman’s club—this has placed them on the wrong side of every important policy issue, and not just recently […]

Clarity and freshness

In a recent New York Times blogpost Paul Krugman responds to a correspondent who complained about the looseness of his writing. Starting sentences with ‘And’ or ‘But’ seemed a particular irritant. Krugman is only too conscious of the challenge he faces. The subject matter he is dealing with […]

On economic amnesia

Economists, one might assume, have something useful to say about the current problems afflicting the world economy. Yet, since the crash of 2008 there has been a considerable amount of reflection in parts of the discipline about its failure to anticipate the crash and its failure to offer […]