57 - Paul Krugman on Liquidity Traps, the Great Recession, and Isaac Asimov

Paul Krugman is a Nobel Laureate in economics, a columnist at The New York Times, and a Distinguished Professor of Economics at the Graduate Center of the City University of New York. He joins the show to discuss his work on liquidity traps, Japan’s Lost Decade, and lessons from the Great Recession. Paul also explains how Isaac Asimov’s science fiction inspired him to become an economist. David’s blog: macromarketmusings.blogspot.com/ Paul Krugman’s CUNY profile: www.gc.cuny.edu/stonecenter/P... Paul Krugman’s blog: krugman.blogs.nytimes.com/ Paul Krugman’s NYT archive: www.nytimes.com/column/paul-k... David’s Twitter: @DavidBeckworth Paul Krugman’s Twitter: @paulkrugman Related links: “It’s Baaack: Japan’s Slump and the Return of the Liquidity Trap” by Kathryn M. Dominguez, Kenneth S. Rogoff, and Paul R. Krugman www.brookings.edu/bpea-articl... "Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo approach" by Gauti Eggertsson and Paul Krugman www.gc.cuny.edu/CUNY_GC/media... “The New York Economic Geography, Now Middle-Aged” by Paul Krugman www.princeton.edu/~pkrugman/a... Global Inequality: A New Approach for the Age of Globalization by Branko Milanovic www.hup.harvard.edu/catalog.ph...

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Imagine the “eureka moment” he will have when he realizes this thinking actually rotted the country