For all of the talk of Krugman receiving his recent Nobel Prize for his theories on trade, nonetheless it seems to me that the committee was awarding the prize posthumously to John Maynard Keynes. Krugman, after all, is not a “neo-Keynesian;” no, he is a true-blue, out-and-out old time religion Keynesian. His latest column, “Let’s Get Fiscal,” is right out of Keynes’ General Theory. While not using the term “liquidity trap,” nonetheless Krugman describes such a situation, and then offers “fiscal policy” as a way out: …there’s a lot the federal government can do for the economy. It can provide … Continue reading John Maynard Krugman