Sachs Says Krugman Is ‘Crude Keynesian’ on Spending: Tom Keene

Nobel-prize winning economist Paul Krugman isn’t paying enough attention to growing U.S. government debt as he promotes deficit spending, Columbia University professor Jeffrey Sachs said.

“Krugman has staked out a rather crude Keynesian position and unrelentingly so,” Sachs said today, referring to John Maynard Keynes, the British economist who advocated government spending to spur economic growth during the Great Depression. Krugman “knows one thing, which is stimulus, stimulus, stimulus and expand deficit spending,” Sachs said in a television interview on “Bloomberg Surveillance” with Ken Prewitt and Tom Keene.