Koo to Krugman: I'm the Better Keynesian

Pater Tenebrarum submits:

Richard Koo: 'I'm the better Keynesian. Spend, spend, spend!'

Richard Koo, the man who recommends massive government spending as the 'cure' for recessions, in spite of the fact that he resides in Japan, where the failure of this policy could be observed first hand for over 20 years running, has taken it upon himself to snipe at a fellow Keynesian, Paul Krugman. Allegedly, Krugman's recommendations are not favoring deficit spending enough.

This is of course incredibly funny, given that Krugman has yet to encounter a government deficit he thinks is big enough. His main failing, according to Koo, seems to be that he wanted a lot of money printing from the Fed as well, or that he expected it would 'work'.

As Businessinsider reports :

Paul Krugman's belief that further monetary stimulus, specifically QE2, would be capable of supporting the U.S. economy misled the Obama administration and has put the U.S.

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