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Paul Krugman has a new presentation that he’s giving in Pamplona on what we’ve learned from the financial crisis.During the worst of the crisis, and even in the immediate aftermath, it was very difficult to get a grasp on what happened, while we waited for the smoke to clear.
Now after this time, Krugman argues, we can confidently state a few things, such as the fact that fiscal policy works, and that employment is not structural. Furthermore, the goal clearly needs to be reflation, rather than just “price stability.”
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