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Paul Krugman @paulkrugman
, 4 tweets, 2 min read Read on Twitter
Agreed that "Keynesian" -- like "socialist" -- has become a right-wing epithet to describe anything they dislike, whether it's expansionary monetary policy or helping poor people get health care 1/ washingtonpost.com/news/postevery…
What's weird is that the actual content of Keynesianism is not hard to find -- it's in all the intro textbooks. And for what it's worth, Trumpian fiscal policy -- deficits when the economy is doing well -- are NOT part of it 2/
I'm not big on "what Keynes said", since Keynesianism is a living body of thought, not worship of the old master. Still, he did call for fiscal austerity in boom times 3/ cas2.umkc.edu/economics/peop…
I would say that given how low interest rates still are, and our desperate need for public investment, borrowing for infrastructure is still justified. Borrowing to cut taxes on corporations, so they can buy back their stock, not so much 4/
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