Krugman in the New Republic

[James Devine]

At 06:01 PM 9/24/98 -0700, you wrote: 
>
> On someone on lbo's recommendation, I read Paul Krugman's article at: 
>
> http://www.thenewrepublic.com/magazines/tnr/current/krugman100598.html
>
> I didn't see any endorsement (or even mention) of Malaysia's Mahathir  or,
> for that matter, anti-semism there. (BTW, Krugman is Jewish.) All he does is
> argue, in effect, that rapid flows of hot money make small countries face an
> unhappy choice between (1) maintaining speculator confidence but causing a
> serious recession and (2) forgetting about the speculators, leading to a
> major financial crisis, and preventing recession. To avoid this dismal
> choice, he recommends stopping the flow of short-term capital, though he
> doesn't explain how.
>
> Elsewhere, Krugman has  An open letter to Prime Minister Mahathir in
which he
> talks about the limits of capital controls. 

the letter is at: http://web.mit.edu/krugman/www/mahathir.html. 

Krugman's other journalism can be accessed at:
http://web.mit.edu/krugman/www/whatsnew.html


>
> It's pretty tame stuff, though from the point of view of Stanley Fischer or
> Larry Summers, it may be heresy.


>
> Jim Devine jdevine at popmail.lmu.edu &
> http://clawww.lmu.edu/Departments/ECON/jdevine.html
> "It takes a busload of faith to get by." -- Lou Reed.

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