- Brad DeLong extensively comments on the Krugman post on liquidity preference I provided earlier.
- Paul Krugman shares five favorite books (HT-David Henderson), two by Keynes (the General Theory and Essays in Persuasion). I got Essays in Persuasion a couple months back and have read through a few of the essays. They're great reads, as is to be expected. One of the great things about this book is that they're largely essays which are (of course) trying to persuade policymakers to do certain things. So you really get a picture of Keynes's political savvy, his understanding of the constraints that politicians are dealing with, his insistence on the proper role of politicians in society, and a mature attention to the public choice issues that have been more formally theorized since that time.
- This is Krugman's lecture for the Keynes conference being held at Cambridge in honor of the 75th anniversary of the General Theory. It's a very good summary of the position of what you might call the "new old Keynesians" - not the "New Keynesians" that are essentially neo-Pigovians, but the old Hicksian, neoclassical synthesis Keynesians brought up to modern times - generally the perspective taken on this blog. Now I have a goal for myself, too: to be invited - as a distinguished Keynesian scholar - to present something at Cambridge for the 100th anniversary of the General Theory, 25 years from now. A good thing to shoot for, I think.
Procrastinating on January 23, 2017
6 hours ago