Les voies du Keynesianisme sont décidément inpénétrables...
Via Zero Hedge:
Yesterday, I had the “pleasure” of attending a Paul Krugman lecture in one of my old classrooms at Yale and came away with a very different experience than the one I would have had as a wide-eyed undergraduate immersed in the dogma that is Yale econ theory. Also, I was really taken back by the fact that only Yale undergraduates were able to ask him questions; the older, more-informed members of the audience (roughly 50% of total attendees) were not allowed to partake in the discussion and ask challenging questions. Below, I’ve posted my “lecture notes” for your education/entertainment purposes.
Conclusion: In attending a Paul Krugman lecture yesterday, we came away with two main takeaways: 1) the Perceived Wisdoms of academic dogma run rampant throughout U.S. monetary policy; and 2) Keynesians really don’t get it.