Depression Economics: Normal Rules Don’t Apply
Posted in Main Blog (All Posts) on December 18th, 2008 1:40 pm by HL
Depression Economics: Normal Rules Don’t Apply
Paul Krugman is trying to get us to understand that depression economics is different from the economics of good times, that “normal rules don’t apply.” Let me try to illustrate this point by looking at some objections to depression…
Stability is Destabilizing
I do not think that Paul Krugman should apologize for recognizing the canary in the coal mine back in 1997-98. Hyman Minsky saw this coming as early as the late 1950s. To the extent that we really did have…
