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Paul Krugman
pkrugman.bsky.social
did:plc:vl7iw2awdpm72srjve3f4fj2
In the aftermath of the financial crisis austerity advocates claimed that contractionary policy was actually expansionary bc of confidence — which I mocked as belief in the Confidence Fairy. It seems to me now that we're seeing a somewhat parallel myth: the Credibility Fairy 1/
2023-12-16T19:38:55.135Z