Word: krugman
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...Nobel Prize winner Paul Krugman and other leading economists are right, the federal government has less than two months to get a huge economic stimulus package into the market place. There is still debate about whether it should focus on building infrastructure, creating jobs, keeping mortgages from default, or cutting taxes. Which of those is the best path is impossible to determine beforehand. It may be that it will never be entirely clear exactly what hurt or helped the economy. Those issues are still being debated when it comes to the reasons American got into and out of the Great...
...Paul Krugman Norton; 191 pages...
Frantic Bookstore customers should be forgiven for riffling through the pages of this slim book. After all, this is the new Nobel laureate in economics addressing the main--perhaps only--topic of conversation these days. But Krugman's assessment is only partly reassuring: "We're not in a depression now, and despite everything, I don't think we're heading into one (although I'm not as sure of that as I'd like to be)." In this updated and revised edition of his prescient 1999 book, the author shows how the Asian and Latin American financial crises...
...Economist warns about "the perils of incrementalism." Nobel Prize--winning economist Joseph Stiglitz cautions that we must not let "latter-day Hooverites" stop us from thinking "big--very big." Stiglitz himself is thinking "at least $600 billion to $1 trillion," which is pretty big. Paul Krugman, another Nobel economist, says there is an "intense debate" over how big the stimulus should be. Krugman doesn't offer a number, but he makes it clear that he is not going to be outbid...
...sure, I get the point: if the patient is dying, you give him blood right now and worry about his cholesterol count later. Krugman says, plausibly, that it's not even a question of long run vs. short run: we'll also be better off in the long run if we can escape the effects of this immediate crisis. If the patient dies, he's not going to be healthy in 10 years no matter what...