Macroeconomics 11th Edition by Michael Parkin

Exercise 27

Krugman on Monetary and Fiscal Policy
New York Times columnist and Nobel Laureate economist Paul Krugman has launched an all-out attack on the monetary policy actions and inactions of Fed Chairman Ben Bernanke. Bernanke has increased the quantity of money by historically large amounts and in mid-2012 was cautiously trying to determine whether more stimulation was needed. Krugman says Bernanke is too cautious and should print money faster and move the inflation rate upward.
Krugman also wants Congress to cut taxes and increase spending. And his advice to boost government spending isn't limited to the United States. He says European governments should boost their spending too.
a. Explain which macroeconomic school of thought Paul Krugman most likely represents in the views described above.
b. Explain which macroeconomic school of thought supports Ben Bernanke's actions described above.