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Economics is not a science. We do not have models of the real economy that are adequate for accurate quantitative prediction of behavior. Krugman is a careful
by drallison 16y ago
Economics is not a science. We do not have models of the real economy that are adequate for accurate quantitative prediction of behavior. Krugman is a careful thinker and observes that the qualitative behavior of the economy in this instance behaves as would be predicted under the Keynesian rubric.