Understanding Critics of Stimulus: Part LIX

Paul Krugman is reduced to psychology, and writes:

The Seductiveness Of Demands For Pain: Mark Thoma is astonished at Raghuram Rajan’s... desire to find some argument... for raising interest rates even though unemployment is near 10 percent.... I realized... I’d seen something like this before. Back in the summer of 2008, as the world was sliding into recession, Ken Rogoff demanded that the Fed and the ECB raise rates because of rising commodity prices and inflationary pressure in...