tag:blogger.com,1999:blog-2499715909956774229.post121782588513547347..comments2024-03-22T22:37:02.639-07:00Comments on Stephen Williamson: New Monetarist Economics: Bad IdeasStephen Williamsonhttp://www.blogger.com/profile/01434465858419028592noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-2499715909956774229.post-89062326838721944332011-05-03T20:42:23.812-07:002011-05-03T20:42:23.812-07:00Indeed.Indeed.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2499715909956774229.post-77373283572265369132011-05-03T15:44:59.567-07:002011-05-03T15:44:59.567-07:00I think we can say this was a bad paper by two peo...I think we can say this was a bad paper by two people who, on most days, were excellent economists.Stephen Williamsonhttps://www.blogger.com/profile/01434465858419028592noreply@blogger.comtag:blogger.com,1999:blog-2499715909956774229.post-19511959379588884422011-05-03T07:44:04.806-07:002011-05-03T07:44:04.806-07:00I don't know about "more wrong" as S...I don't know about "more wrong" as Samuelson and Solow seemed to advocate the cost-push view of inflation and incomes policies. That was wrong too!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2499715909956774229.post-73435741758825953822011-05-03T07:24:09.485-07:002011-05-03T07:24:09.485-07:00So you are saying there were some people that were...So you are saying there were some people that were even more wrong than Samuelson and Solow?Stephen Williamsonhttps://www.blogger.com/profile/01434465858419028592noreply@blogger.comtag:blogger.com,1999:blog-2499715909956774229.post-50917103877361796922011-05-02T21:09:09.095-07:002011-05-02T21:09:09.095-07:00Steve,
You wrote, "Basically, Krugman is bac...Steve,<br /><br />You wrote, "Basically, Krugman is back with Samuelson and Solow in 1960. He thinks that there is a Phillips curve, and that monetary policy is about choosing a point on it."<br /><br />That this is not at all what Samuelson and Solow said in that 1960 paper. Abba Lerner's comment on the paper, in fact, takes them to task for not recommending more inflation in exchange for higher employment.Anonymousnoreply@blogger.com