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Tag Archives: Paul Krugman

That trading thing people do

Canadian economist Nick Rowe made a comment on a blog post on comparative advantage that bugged me: The way I teach it, all gains from trade come either from differences between people, like comparative advantage, or else from economies of scale. So I think gains from trade is not more basic than comparative advantage. Gains […]

Ronald Coase (1910-2013)

I was intending to make this my Wednesday post for last week, but my iPad ate my draft in Pages (it will not open or email the document: any suggestions for getting to the document would be welcome). But delaying for a week allowed me to provide a more complete post.   Ronald Coase, the […]

Putdowns with style — economists’ version

I was very chuffed when my favourite econblogger made one of my comments the centrepiece of a post. That is a prominent economist being nice. Then there are economists engaged in public putdowns. In 2002 Kenneth Rogoff penned an open letter to Joseph Stiglitz. In Scott Sumner’s words: I used to think that Ken Rogoff’s 2002 […]

Check your expectations (3) Milton Friedman not going far enough

Milton Friedman’s 1967 Presidential Address (pdf) is something monetary economists regularly say anyone interested in monetary economics should read. Having recently read it, I have come to the conclusion that it is something anyone interested in monetary economics should read. As is normal with Friedman, it is beautifully clear, one his great attributes. His analysis holds […]

Storytellers and moralists

If you’re going to win an argument or persuade someone to your point of view, it helps if you can tell a story. And by this I don’t mean any old story, but the sort of story that kept you awake at night as a kid, or made you cry, or made you afraid to […]

Friedman centenary

Today (Tuesday 31st) is Milton Friedman’s centenary.  It seems appropriate to link to some Milton Friedman quotes here and here.  Various bloggers have offered their comments, including Bryan Caplan’s ode, Tyler Cowen notes how much he is still needed, Lars Christensen writes him a letter, and David Glasner continues his campaign against the Wall St […]

Debt and boom

The slogan for this post is: don’t think debt, think safe assets. (This post is partly provoked by this post by Paul Krugman responded to by Scott Sumner and by Marcus Nunes.) In my Debt, Doom and Despair post I noted that a hugely debt-burdened post-Napoleonic Wars UK (where the national public debt was probably about […]