喪屍海耶克

之前提過海耶克是瘋子(至少在宏觀經濟學上),今天海耶克成了喪屍回來吃腦袋。

Krugman:

Truly, nothing ever changes. The insistence that big deficits somehow caused the crisis even thought they actually didn’t appear until after the crisis was well underway — and were clearly caused by the crisis, not the other way around — prefigures the debate in Europe, in which everyone declares that fiscal irresponsibility is the core issue even though both Ireland and Spain had low debt and budget surpluses on the eve of crisis.

And Hayek’s prediction that deficits would drive up interest rates despite high unemployment was, of course, totally wrong.

What’s terrifying is the fact that, as Brad notes, the arguments of today’s pain caucus are exactly the same as those Hayek was making in 1932, except that they’re less well expressed. And they’re sticking with their doctrine even though the economic story — deficits mainly the result of the slump, not the cause, and interest rates not rising in the face of those slump-caused deficits — is playing out the same way.

http://wp.me/pXZbk-bL

本篇發表於 經濟學 並標籤為 , 。將永久鏈結加入書籤。

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