Krugman-Keynes in Asia
2010-07-25 | Filed Under RichardH's Posts |
Paul Krugman, in his 24 July 2010 blog post, Keynes in Asia, points out that Asia (specifically, China and South Korea) during the current financial crisis aggressively followed a policy of Keynesian fiscal stimulus (more than any western nation)… to great (even spectacular) success.
With the Republican Party of No applying its boot to the brake, the US couldn’t apply enough fiscal stimulus to get the economy on its historical growth path.
-RichardH
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A wonderful look at this topic that makes some points that have not been the focus of much public discussion of late.
Whenever I talk about Keynes publicly, I always try to emphasize that we are supposed to run surpluses during the good economic times.