In which we see the snarky side of Greg Mankiw
In a recent blog post, Paul Krugman writes:
As far as I know, among basic textbooks only Krugman/Wells even talks about the liquidity trap.
This is probably a true statement. It is not that other books don’t cover the topic, however. It is just that Paul Krugman doesn’t know it.
– Greg Mankiw. Excerpt from his own textbook follows.