Monthly Archives: December 2013

More Hypocrisy From Krugman: The Grumpy Old Men of Macro

Well, it looks like I wasn’t the only one taking Krugman to task the other day for defending mainstream economics because he’s actually responded to some of the flak he has received. It’s a bland response (as usual) and more … Continue reading

Posted in Economic Theory | 4 Comments

What Caused the ‘Great Moderation’ and How is it Related to the 2008 Crisis?

Today most mainstream economists, even those who call themselves Keynesians, hold to the idea that something like a ‘Great Moderation’ existed between the mid-1980s and 2008. This period, characterised by low inflation and moderate GDP growth, was then and is … Continue reading

Posted in Economic History | 4 Comments