Paul Krugman slugs it out with our colleague Jamie Galbraith and many other “modern monetary theory” partisans at Krugman’s New York Times blog website. Jamie’s most recent retort is at the top of this page of the blog site. Many of the points raised in the discussion there are central to our work here at the Levy Institute and to the views of Galbraith and others in our macro research group.
Update: More links to the ongoing Krugman-MMT debate can be found here. -G.H., March 31.
Update, August 11: Krugman on MMT again, this time drawing lessons from French fiscal policy between World Wars I and II.