Use what you have learned about the fiscal multiplier to explain why, in Krugman’s opinion, fiscal austerity in France (and more generally in Europe) would fail (explain carefully what you think Krugman means by ‘fail’).
Use what you have learned about the fiscal multiplier to explain why, in Krugman’s opinion, fiscal austerity in France (and more generally in Europe) would fail (explain carefully what you think Krugman means by ‘fail’).
Introduction
Paul Krugman is an American economist and Nobel Prize laureate who works at the Massachusetts Institute of Technology. Krugman is mostly known for his New York Times column and his work on international economics. He is a Keynesian economist with a focus on macroeconomics and international economics. He favors expansionary fiscal policy and is an advocate of government intervention. Krugman is an outspoken critic of austerity and has written several books on the subject. His work has focused on income inequality, currency devaluation, and the European debt crisis. He is also an advocate for free trade and the the use of quantitative easing to stimulate the economy.
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