But sadly, for inexplicable reasons, he does'nt know jobs can't be created. Economists, including Paul Krugman, are deceiving innocent people who are not literate in economics with jargons like full employment.
Paul Krugman and other economists ignore the role of individuals in the economy, Federal Reserve in keeping interest rates low, Investment banks, Stock Markets, and Trade Unions. Sadly, Paul Krugman and other economists want to find a solution inside the problem. Their prescriptions for reviving the economy persists,economic problems stays as it is, and economic solution remains elusive.
Paul Krugman and other economists with their tried,tested, and failed prescriptions can think of growing the US economy by only 2 or 3 %. These celebrated economists are unable to come up with innovative solutions to raise revenue for the government without resorting to taxes.
The US government from 2001 to 2017 spent 51.762 trillion dollars in outlays to increase the GDP by 9.1 trillion dollars. Paul Krugman do you still want to be indifferent to deficits?
It is time Noble Committee reviews awarding Noble Price in Economics every year. Since 2000, the world hasn't been able to recover economically. Economic theory needs a revisit.
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