“Is a Dollar Crash Coming?”

That’s the title of a symposium in The International Economy, with Anders Åslund, Scott K.H. Bessent, Lorenzo Bini Smaghi, Jill Carlson, Stephen G. Cecchetti, Menzie D. Chinn, Lorenzo Codogno, Tim Congdon, Marek Dabrowski, Mohamed A. El-Erian, Heiner Flassbeck, Takeshi Fujimaki, Joseph E. Gagnon, James K. Galbraith, James E. Glassman, Michael Hüther, Richard Jerram, Gary N. […]

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Repeat after me…

In Keynesian economics, “running the economy hot” boosts employment by lowering the real wage. In Lucasian economics, “running the economy hot” boosts employment by fooling people into thinking that real wages are higher, when they are not. In #thegreatforgetting economics, “running the economy hot” boosts employment and real wages by…boosting employment and real wages. It […]

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