Krugman's basic point, that some past economic theories were good descriptions of the world then but aren't of the one now is entirely correct. Having accepted the point though we've got to consider which others fall to the same fate. Like infrastructure projects to beat recessions perhaps.
from Forbes Real Time http://www.forbes.com/sites/timworstall/2017/07/11/formerly-true-theories-which-of-krugmans-beliefs-might-not-be-so-now/
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