BRIEFLY NOTED: For 2021-05-11 Tu

Krugman sees models as intuition pumps.... Summers believes that our models are, at best, filing systems (and at worst tools for misleading the unwary)—and that the right way to think about the economy is as, in some way, a two-state system, with expansion being one state and recession the other, so that you cannot halt an expansion without tipping the economy fully into recession:

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