Nobel laureate. Op-Ed columnist, @nytopinion. Author, “The Return of Depression Economics,” “The Great Unraveling,” “The Age of Diminished Expectations” + more.

After the Money’s Gone — On Wednesday, the Federal Reserve announced plans to lend $40 billion to banks. By my count, it's the fourth high-profile attempt to rescue the financial system since things started falling apart about five months ago. Maybe this one will do the trick, but I wouldn't count on it.

Hook, Line, and Thinker (Trivial) — Apropos of nothing much, the British magazine Prospect has done a poll to identify the world's leading thinkers. Some very odd characters there. A small complaint: if you're going to use photos at all, maybe use photos from the past couple of years, not way back when?

Eurobounce - — A lot of the recent data coming in show a substantial acceleration in European growth. And you know what will be coming next: claims that this (a) vindicates austerity and (b) shows that there is no reason to worry about Japanification. Time, then, for some prophylaxis.

Anti-Keynesian Delusions — I forgot to congratulate Mark Thoma on his tenth blogoversary, so let me do that now. It's hard to imagine what current economic debate would look like without the incredible job Mark does in assembling and discussing the most important new work, every day; for sure it would be vastly impoverished.

Liberals, Conservatives, and Jobs — Just about everything I write evokes vituperative reactions from the usual suspects, but never so much as when I point out awkward facts. So there was a lot of mud-slinging when I pointed out last summer that California's economy - which conservatives said was doomed by tax increases and generally liberal policies - was in fact experiencing an impressive recovery.

Charlatans, Cranks, and Cooling — Branko Milanovic notes Lee Kwan Yew's explanation of the success of Singapore and other Asian economies; partly Confucian culture, partly air conditioning. If you've ever tried to walk around Singapore, you know whereof he speaks. The same factor plays a major role in explaining differential US regional growth, and thereby hangs a tale.

Paul Krugman: This snookered isle

The Loneliness of the Not-Crazy Conservative — A few minutes before class, and I'm thinking about the plight of not-crazy conservatives. I have macroeconomics in mind at the moment, but it's not a unique issue. If you think about policy in general, it involves two kinds of decisions: values and models, or what you want and what you believe.

Britain's Terrible, No-Good Economic Discourse — The 2016 election is still 19 mind-numbing, soul-killing months away. There is, however, another important election in just six weeks, as Britain goes to the polls. And many of the same issues are on the table. Unfortunately, economic discourse in Britain is dominated by a misleading fixation on budget deficits.

Krugman: The GOP's fraudsters and budgeteers — By now it's a Republican Party tradition: Every year the party produces a budget that allegedly slashes deficits but which turns out to contain a trillion-dollar "magic asterisk" - a line that promises huge spending cuts and/or revenue increases, but without explaining where the money is supposed to come from.
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