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by parasubvert
4809 days ago
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Interesting. I didn't realize the IS-LM model (which is the relatively simple lens Krugman uses for 80% of the reasoning on his blog the past 3 or 4 years) was (a) ideological,
(b) partisan, or
(c) a smokescreen. I thought it was used to analyze the relationship between investment, interest rates, and economic production. It's been able to (for example), explain why inflation would be nowhere in sight in the face of government borrowing or quantitative easing given the current state of our economy.
Or why any finite currency (gold, bitcoin) would lead to rampant deflation and thus depression conditions. Can you please elaborate as to why IS-LM the ideological ruse you claim it to be? Krugman may be a hack, but I start to believe the hacks who are continuously right most of the time, and ignore the ones who are often wrong. Just the empiricist in me. |
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