Monday, July 11, 2011

Time Horizons

Here's Paul Krugman.


The Ancient said...

Hey Paulie.

The pump don't work 'Cause the vandals took the handles ...

FLG said...

The Ancient:

You know, he really is the exemplar of my Time Horizons Theory. The beauty is that his short-term-ism isn't clouded in ignorance. He is explicitly short-term and empirical and poo-poo's the long-term and more theoretical.

So, borrowing trillions is okay. To what point, Paul?

Until we move the needle. How much is that?

Don't know, but we do have a needle to measure it. But wait, Paul, at some point you can't borrow any more?

Yes, but there's no evidence of that. Paul, do you really treat the economy as if it were some sort of boiler? Just keep throwing fuel into the fire until the temperature goes up to what you want, all the while keeping another eye on the pressure valve?

Yes, yes, I do.

The Ancient said...

The Ancient said...

PRK: You can’t make any sense of American political discourse if you give everyone credit for really wanting what they claim to want. My sense is that there are very few true deficit hawks; the vast majority of those who claim that title are really just using the deficit to pursue the goal of a more unequal society.

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