Krugman

Archive for Krugman

Potpourri

==> I’m being serious: Mark Spitznagel sent me this, and neither of us can tell if this is a complete fabrication about “Krugman’s response.” Thoughts? I’d call in the world’s leading forensic expert on the writing of Paul Krugman, but that would present a conflict of interest. ==> What kind of crazy upside down world […]

Henderson/Murphy Tag Team the Keynesian Champ

I know I’m mixing wrestling and boxing metaphors. But there are few rules at Free Advice. David R. Henderson has a good critique of Krugman’s latest post about “unprecedented austerity” (Krugman’s term). For example, Krugman labels a sharp reduction in the rate of growth of spending as a “collapse in spending.” That’s simply not correct. […]

More on Krugman and Fiat Money

At Mises Canada I explored Krugman’s glib assertion about fiat money being “backed by men with guns” a little more deeply: Furthermore, it’s obvious that Krugman’s “explanation” would have no way of accounting for changes in either variable. For example, in the 1970s in the United States, price inflation took off dramatically, meaning the purchasing […]

In Defense of Paul Krugman

On Facebook a younger person was asking us old timers what it was like when the Internet first came on the scene in force, and I couldn’t resist relaying this gem: “By 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.” — […]

Krugman: “Fiat Money…Is Backed By Men With Guns”

Wow, you really have to hand it to Paul Krugman. In the quick snippet below, he talks to Joe Weisenthal about Bitcoin. Krugman reiterates his surprise that it has lasted this long, but admits that it’s theoretically possible for an asset not backed by anything to chug along because of a self-fulfilling prophecy. However, Krugman […]

Potpourri

==> Mario Rizzo stands up for economic freedom and tolerance. ==> A few people have told me to highlight this apparent Krugman Kontradiction on unemployment benefits and job search (scroll down a bit). I actually highlighted this when it initially occurred (perhaps because somebody brought it to my attention, I can’t remember). However, Krugman on […]

Krugman Admits Two Key Facts About ObamaCare

In the past (not going to bother digging it up), Krugman has argued that the Republicans who were desperately trying to avert the onset of ObamaCare were belying their own arguments. If they actually thought it would be a disaster, Krugman argued, then they should let it get implemented, because then everyone would see how […]

The Real Flaw in Williamson’s Inflation Argument?

Wow, I don’t know if you kids have been following the blow-up over Stephen Williamson’s arguments about QE–I gave you a hint in this Potpourri when talking about Nick Rowe’s blog rage–but it has the potential to rival the Great Debt Debate of 2012. At this point we’ve got a full-blown shooting war, with Williamson, […]