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#Paul Krugman

# paul-krugman - Sunday 26 April, 2020

'There has been an intellectual rethinking on the whole issue of government borrowing'

Why austerity is out and public spending is back on the menu for economists.

# paul-krugman - Wednesday 26 December, 2012

Here are our top 10 most shared articles on Facebook in 2012 Review 2012 This post contains images

Here are our top 10 most shared articles on Facebook in 2012

From Savita Halappanavar to puppies rescued from a Dublin car, these were the most shared articles on Facebook this year.

# paul-krugman - Sunday 24 June, 2012

So much partying and do as the Romans do: The week in quotes Said And Done This post contains images

So much partying and do as the Romans do: The week in quotes

“What we have found, in one word, is a disgrace.”

# paul-krugman - Wednesday 20 June, 2012

Krugman: Elect Mitt Romney and the US will have an Irish recession

The Nobel laureate was warned against Mitt Romney’s economic policies, saving: “Ireland is America’s future”.

The 9 at 9: Wednesday

Nine things to know this morning…

# paul-krugman - Thursday 7 June, 2012

Estonian president takes to Twitter to bemoan New York Times' economic analysis

The New York Times’ Paul Krugman played down Estonia’s economy. Toomas Hendrik Ilves wasn’t at all pleased.

# paul-krugman - Sunday 3 June, 2012

Inconceivable and short lived independence: The week in quotes Said And Done This post contains images

Inconceivable and short lived independence: The week in quotes

“It was Fianna Fáil wot won it.”

# paul-krugman - Saturday 2 June, 2012

Krugman: Ireland voted for a 'bad idea' - and euro could collapse in two years

The Nobel-winning economist isn’t impressed with Ireland’s vote – but reckons it could all be fairly meaningless anyway.

# paul-krugman - Wednesday 30 May, 2012

Paul Krugman says Irish voters should vote No

The Nobel prize-winning economist said that austerity is a deeply destructive policy which is failing dismally.

# paul-krugman - Sunday 13 May, 2012

From The Daily Edge Sitdown Sunday: 7 deadly reads Sitdown Sunday

Sitdown Sunday: 7 deadly reads

The very best of the week’s writing from around the web.

# paul-krugman - Tuesday 8 November, 2011

Gallery: The 10 most influential people in finance... Power 100 This post contains images

Gallery: The 10 most influential people in finance...

…according to the US wealth management magazine Worth, including the German Chancellor and new ECB chief.

# paul-krugman - Friday 14 January, 2011

Can Europe be saved?

Paul Krugman on how the euro may be Europe’s proudest achievement, but it’s looking increasingly like a trap.

# paul-krugman - Friday 26 November, 2010

Eating the Irish

Only a satirist — and one with a very savage pen — could do justice to what’s happening to Ireland now, writes the Nobel-prize winning economist and New York Times columnist.

# paul-krugman - Wednesday 21 July, 2010

A POSTER ON THE NEW YORK TIMES website bearing the same name and location as former Finance Minister Ray MacSharry has come to the defence of Irish economic policy.

The comment was posted in reply to Paul Krugman’s diatribe against the economic policy and austerity measures recommended by the ESRI on Wednesday.

The Poster who goes by the name Ray MacSharry wrote: “There is little this country can do other then to trim spending, try and engineer an economy wide deflationary effect on wages and costs…and hope for a spill over of international stimulus to stimulate the recovery.”

MacSharry explained his comments, saying: “Paul, With no ability to control currency, with a rising debt to gdp ratio..with a very high unit labour cost, and with the crystalisation of proportionally massive banking losses and a crashed property market, the policy levers open to Ireland are few and far between.

“There is nothing the Irish government could spend money on that will boost the economy, so far the hammer has come down mostly on the spending side..hopefully the tax side will be spared and private economic activity might grow.”

Krugman, a Nobel Prize winner and columnist with the New York Times said the ESRI report was plucked “out of the thin air” and was designed to appeal to the “confidence fairy”.

MacSharry’s comments are an endorsement of the government’s plan to cut €3bn in spending from the 2011 budget.

The Journal was unable to contact the the former Finance minister at the time of writing. Ray MacSharry served as Tánaiste and finance minister in the 1980s. He also served as an EU Commissioner.

The ESRI (Economic and Social Research Institute) has been lambasted by a Nobel Prize winning economist this afternoon.

Blogging for the New York Times Paul Krugman says the analysis in this morning’s ESRI report, which calls for €7.5bn in cuts over the next four years  is pulled “out of thin air”.

Krugman is highly critical of the institutes approach, arguing that further cuts may be self-defeating. Krugman is speaking as the government met today at Farmleigh to cut more than €3bn from the 2011 Budget, a move endorsed by the IMF.

Krugman says: “the policy conclusions are not, in fact, derived from the analysis — they come out of thin air. The authors simply assert that more austerity now would lead to a lower risk premium and hence higher growth, based on no evidence I can see.”

He dismisses the report saying it is a “pure appeal to the confidence fairy.”

This is not the first time Krugman has slammed austerity measures in Ireland.  In June, he wrote: “All that savage austerity was supposed to bring rewards… But the reality is that nothing of the sort has taken place: virtuous, suffering Ireland is gaining nothing.” Krugman’s comments had been brought about by an article by a feature in the New York Times about Ireland.