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Krugman clarifies: modern Keynesians are no planners.

I do think it’s useful to read Keynes. But Greg is right: modern Keynesianism is to be understood through the views of modern Keynesians, not by hunting through the original works for hidden meanings.

And modern Keynesians are emphatically not advocates of central planning…

Uncontroversial and totally right as long as we do not go Austrian and include price setting as central planning. Indeed some version of this is what libertarian critiques of central banking amount to.

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