One important lesson from 2013 is that we should beware political pronouncements posing as economic forecasts. The U.S. economy had its biggest increase in quarterly GDP in nearly two years despite the government "shutdown effect."
For Caroline Baum's latest contributions to The Japan Times, see below:
Paul Krugman and other economists now advocate the kinds of things Keynesians typically promote to stabilize the economy during a recession to become a permanent part of the U.S. fiscal architecture.
Why do some economists keep insisting that economics is a science? If they would just give up on the science fixation, they might begin to appreciate the value in what they do.
People who experienced 1970s-style inflation must wonder why anyone would wish even a trace of that upon future generations. Some economists want to take that risk.
rican economist Paul Krugman is jumping the gun in suggesting that the late monetarist Milton Friedman will be regarded as just a footnote decades from now.
Shoulda, woulda, coulda. It's been a week since Federal Reserve Chairman Ben Bernanke "surprised" financial markets by telling them exactly what they expected, yet the whining is still going strong. If only Bernanke had been clearer at his June 19 news conference. He said too ...