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The Krugman article you linked is behind a paywall so I couldn’t read it. I did, however find this other article on his take on MMM [1]. Per the article, Krugma
by lowkey 5y ago
The Krugman article you linked is behind a paywall so I couldn’t read it. I did, however find this other article on his take on MMM [1]. Per the article, Krugman’s take is that most other economists aren’t pro-MMM enough for his taste. He thinks we should be even further to the left on MMM. Is that your position also?
Do you also support Krugman’s position that the internet would never be more valuable to society than the fax machine? [2] I have no doubt you concur with his repeatedly articulated position that Bitcoin is also worthless? Perhaps as worthless as the internet vs the illustrious fax machine?
As for the rest of your comments, I’ll summarize them as follows:
1. Inflation is not a problem as long as economists can predict it because, reasons.
2. Inflation isn’t really a problem for regular people because they can just go and get an over-sized mortgage at an interest rate below inflation and get free money without consequence.
3. Inflation will be over soon, which ignores the trillions in new money recently injected into the economy, and people maybe won’t notice or won’t mind the new higher prices for things as prices magically stabilize in 12-18 months? - despite the fact that the money printer isn’t likely to stop printing money in that timeframe.
[1] https://www.businessinsider.com/paul-krugman-modern-monetary-theory-inflation-stimulus-federal-reserve-policy-2021-5 https://www.businessinsider.com/paul-krugman-modern-monetary...
[2] https://www.businessinsider.com/paul-krugman-responds-to-internet-quote-2013-12 https://www.businessinsider.com/paul-krugman-responds-to-int...