ent low productivity growth rates do not portend low growth rates going forward. Just as Hansen was proven wrong on his secular stagnation theory and Krugman was proven wrong on his diminished expectations for the US economy (and they were both influenced by their pessimistic view on productivity), those w

Doesn’t Capital Flow from Rich to Poor Countries? An Empirical Investigation," NBER working paper 11901, December 2005. X. JAPAN’S DEFLATION TRAP *Krugman, Paul, "It's Baaack: Japan's Slump and the Return of the Liquidity Trap," Brookings Papers on Macroeconomic Activity, 1998, v2, 137-205. (including c

s — as usual — to be the key decision maker on that choice, too. A Microsoft spokesman declined comment. Back to top The Decline of E-Empires Paul Krugman — New York Times Steve Ballmer’s surprise announcement that he will be resigning as Microsoft's C.E.O. has set off a huge flood of commentary. Being