In particular, Krugman was the flag bearer of "countries that borrow in their own currency should not worry about government deficits because they can always create money to finance their debt". (paraphrasing) This was incredibly wrong. It ended up in sky high debt and now interests on it are non-zero. And most of the added money ended up in the top 10% making inequality much, much worse.
Hmm
> you’re better off reading Krugman
It used to be kind of a meme to make fun on how wrong Krugman was but now it's kind of like beating a dead horse.
https://foreignpolicy.com/2019/10/22/economists-globalizatio...
https://www.theguardian.com/commentisfree/2018/jan/10/paul-k...
In particular, Krugman was the flag bearer of "countries that borrow in their own currency should not worry about government deficits because they can always create money to finance their debt". (paraphrasing) This was incredibly wrong. It ended up in sky high debt and now interests on it are non-zero. And most of the added money ended up in the top 10% making inequality much, much worse.