Friday, August 20, 2010

Time Horizons For The Ten Gazillionth Time

Read this Paul Krugman article with time horizons and the bias of empiricism toward the short-term as well as the blindness of those with those biases toward the inclusion of values in their analysis. For Krugman, those who worry about fiscal deficits in the absence of empirical evidence that the deficits will be problematic in the short run are entirely irrational.

3 comments:

George Pal said...

It occurred to me, after Krugman’s 08/15 piece Attacking Social Security, (dedicated funding, trust fund, idealogical Conservatives hate Soc. Sec., and all that) “is this the end of Krugman”?

Apparently not. Sigh.

The Ancient said...

FYI:

http://www.tnr.com/blog/critics/77109/stimulus-spending-confusion-whos-right

The Ancient said...

And this:

http://www.nationalreview.com/exchequer/244243/listen-cbo-learn-greeks

"Spending our way into a Greek corner"?

 
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