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

Apologizing to Japan

nytimes.com — TOKYO - For almost two decades, Japan has been held up as a cautionary tale, an object lesson on how not to run an advanced economy. After all, the island nation is the rising superpower that stumbled.

Google's Analysis of Japan

krugman.blogs.nytimes.com — It keeps trying to autocorrect "Domo arigato" to "Doom activator". It may have a point, although as I have been saying, the West has messed up so badly that Japan's response to the burst bubble is starting to look good by comparison.

Paul Krugman on why Janet Yellen is the un-central banker

pbs.org — Editor's Note: No one said the Federal Reserve's job is easy. And if you believe Nashville money manager (aka econo-crooner Merle Hazard), it has a harder job than other central banks because it has not one but two mandates.

Notes on Japan - NYTimes.com

krugman.blogs.nytimes.com — I'm going to Japan soon, and have been putting some numbers and thoughts together, both about Abenomics and the longer-term lessons from the Japanese experience. Here are some notes on the way. First, can we stop writing articles wondering whether Europe or the United States might have a Japanese-type lost decade?

Krugman: Ideology and investment

hamptonroads.com — America used to be a country that built for the future. Sometimes the government built directly: Public projects, from the Erie Canal to the interstate highway system, provided the backbone for economic growth. Sometimes it provided incentives to the private sector, like land grants to spur railroad construction.

Open Letters of 1933

krugman.blogs.nytimes.com — My friend and old classmate Irwin Collier, of the Free University of Berlin, sends me to an open letter to monetary officials warning of the dangers of printing money and debasing the dollar, claiming that these policies will undermine confidence and threaten to create a renewed financial crisis.

ACA OK - NYTimes.com

krugman.blogs.nytimes.com — The Times has a very nice survey of the results to date of the Affordable Care Act, aka Obamacare, aka death panels and the moral equivalent of slavery. The verdict: It's going well. A big expansion in coverage, which is affordable for a large majority; the main exceptions seem to be people who went for the minimum coverage allowed, keeping premiums down but leaving large co-payments.

When Banks Aren't The Problem

krugman.blogs.nytimes.com — OK, an admission: Sometimes it seems to me as if economists and policymakers have spent much of the past six years slowly, stumblingly figuring out stuff they would already have known if they had read my 1998 Brookings Paper (pdf) on Japan's liquidity trap.

What Secular Stagnation Isn't

krugman.blogs.nytimes.com — Et tu, Gavyn? In the course of an interesting piece suggesting that there has been a sustained slowdown in the trend rate of growth, Gavyn Davies declares that Some version of secular stagnation does seem to be taking hold. He later acknowledges that there are different meanings assigned to the term; but it's really important not to feed the confusion.

Ideology and Investment

nytimes.com — America used to be a country that built for the future. Sometimes the government built directly: Public projects, from the Erie Canal to the Interstate Highway System, provided the backbone for economic growth. Sometimes it provided incentives to the private sector, like land grants to spur railroad construction.
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