Shorter Brad De Long this morning: Those words do not mean what you think they mean.
Brad De Long takes down some of his fellow academics and is too the point.
In case there is any doubt:
- Paul Krugman is reasonably up-to-date on research in macroeconomics over the past quarter century (Levine);
- that spending can spur the economy is part of what everyone who teaches their graduate students about the dot-com boom of the 1990s ora obout the housing-led expansion of the 2009s says, and the government’s spending is as good as anyone else’s as far as this is concerned (Cochrane);
- Christina Romer played a significant role in the design of the ARRA (Lucas);
- there is certainly debate over whether “advancing the science” means what Ed Prescott thinks it means (Prescott);
- Eugene Fama really ought to have paid a little attention to Minsky-Kindleberger at some point in his career (and really ought to be paying attention to Krugman now) (Fama);
- Luigi Zingales needs really, really badly to read John Maynard Keynes’s “How to Pay for the War” before he embarrasses himself further (Zingales); and
- I don’t think “working in those fields means what Michele Boldrin thinks that it means (Boldrin).
Read the whole post to see what Brad is reacting to.
Here’s Inigo Montoya to put paid on it.
