Keynesians vs. Keynesians
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Keynesians vs. Keynesians
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- The debate between Lawrence Summers and Paul Krugman on the risks stemming from Biden’s fiscal stimulus is all but an obscure academic dispute. The questions they raise are key to the trajectory of long-term interest rates in the US.
Keynesians were fairly united when they were in the policy wilderness, but now that their views are dominant and they can finally seize the levers of macro policy, dissent is emerging. Lawrence Summers is taking issue …
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