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The dignity of John Taylor

Posted By Russ Roberts On March 20, 2013 @ 1:58 pm In Debt and Deficits,State of Macro,Stimulus | Comments Disabled

This post [1] of John Taylor’s, written in response to this post [2] by Paul Krugman, is worth reading just for the dignity and calmness of Taylor’s prose.

On the substance, I always find it strange that Krugman mocks the role of confidence in economic decision-making when Keynes himself put so much stock, perhaps correctly so, in what he called animal spirits.

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[1] This post: http://johnbtaylorsblog.blogspot.com/2013/03/krugmans-claims-are-wrong.html

[2] this post: http://krugman.blogs.nytimes.com/2013/03/19/cogan-taylor-and-the-confidence-fairy/

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