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The dignity of John Taylor

Tweet [1]

This post [2] of John Taylor’s, written in response to this post [3] 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.