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Nobel-winning economist Paul Krugman recently claimed that John Maynard Keynes — or the general idea of Keynesianism — is winning the battle of opinion in the public sphere.

George Mason University economist and blogger Tyler Cowen responded, playing devil’s advocate, and listed a bunch of points that he thinks indicate that Keynesian ideas (liquidity traps are important, austerity during recessions is destructive, fiscal stimulus is useful) might be losing the substantive battle.

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