July 2020
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Recent Posts

Krugman-in-Wonderland: Uh, Isn't this a Case of Malinvestment? I …

Pure ignorance. On the contrary, Krugman does have a theory, and has referred to it repeatedly: its called Hyman's Minsky's financial instability hypothesis, as developed from Irving Fisher's debt deflation theory of depressions … [...]

Effective demand, liquidity traps and debt deflation « Michael …

From that debt deflation (Fisher-style), the liquidity trap and the Keynesian multiplier emerge. And this provides a “rationale for expansionary fiscal policy”. Krugman called it a Fisher- Minsky ,Koo approach to the crisis, although … [...]

Bernanke answers Krugman and comes out looking… well, like the …

Bernanke says that's totally wrong. Specifically he says that's “Absolutely incorrect.” Why? Japan was in deflation . We're not. Here's the full comment, via a livestreaming text service: Yeah, let me tackle that second part [...]

Economic Illiterate Peter Schiff’s Senseless ‘Deflation Is Good’ Argument Debunked

Right off the bat, Schiff once again displays his enormous ignorance in stating that the prices of electronic goods such as computers, TVs, mobile phones etc. drop every year but sales are not adversely affected. Well, Peter – for your information – the price decreases are mainly due to technological advancements and production efficiency improvements. [...]