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Laure_app
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PKpkrugman.bsky.social

What happened in 2023 was *exactly* what mainstream economics predicts as the result of a positive supply shock — such as the economy overcoming lingering Covid disruptions. It only seemed impossible if you refused to believe those disruptions were, um, transitory 2/

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PKpkrugman.bsky.social

So, I keep seeing media assertions that the miracle of 2023 — rapid disinflation with solid growth — was something economists considered impossible. Ahem. Here's a figure from Krugman and Wells 7th edition, forthcoming 1/

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Laure_app
@laureapp.bsky.social
31 followers81 following47 posts