Krugman

Archive for Krugman

Wolf vs. Krugman: Separating the Economist From the (Bad) Accountant

Not surprisingly, both my allies and critics seem to be missing the point of my previous post on Krugman and (alleged) accounting identities. So some clarification is in order. First, here’s a simple one I made in the comments on the definition of income: If I do a consulting project for a guy and he […]

Proof That Krugman Doesn’t Read Mises.org

Well I really thought a few weeks ago I demonstrated that you need more than simple accounting to come up with Krugman’s constant assertions that debt reduction will lead to lower incomes. But Krugman writes today, in a post entitled “Death By Accounting Identity“: Martin Wolf has a somewhat despairing-sounding column this morning, in effect […]

A Dark Age of Welfare Economics

Paul Krugman, Nov. 22, 2011: In the first part of the paper, [Diamond and Saez] analyze the optimal tax rate on top earners. And they argue that this should be the rate that maximizes the revenue collected from these top earners — full stop. Why? Because if you’re trying to maximize any sort of aggregate […]

Krugman on Shaping Expectations

I’m not going to say this even qualifies as a “Kontradiction,” but it’s close. By now, every serious geeconosphere wonk should know that Paul Krugman’s recommendation to Japan back in the day, was that its central bank should credibly commit to future inflation. That would cause the public to expect a lower purchasing power of […]

Follow-Up on Krugman and Italy

Not surprisingly, Daniel Kuehn (and others) was not impressed by my highlighting of an apparent Krugman Kontradiction regarding Italy. To refresh your memory, in November 2009 (to take just one example) Krugman was (typically) making fun of people who were warning that the US had better get its deficit under control, lest interest rates quickly […]

Krugman Promises to Reconcile Himself at a Date TBD

Ah, I’m glad to see some people are apparently busting Krugman in the comments of his blog about an apparent inconsistent (dare I say Kontradiction?). For a while Krugman has been ripping on the people worrying about deficits, by pointing to other countries that have higher debt-to-GDP ratios than the US does. Here’s a good […]

Guest Post: Praising the Financial/Economic Punkosphere

[Frequent commenter James Miller submitted this to me a good two months ago, and I somehow managed to just post it today. But, he should appreciate my punky behavior.–RPM] Praising the Financial/Economic Punkosphere by James E. Miller Last December, the New York Times ran a piece entitled “10 Annual Year in Ideas.” The number one […]

Krugman the Modern Day Bastiat?? C’est ne pas!

(If my French is ungrammatical, I am coining a new phrase.) David R. Henderson asked who today’s Bastiat is. People were throwing out obvious candidates like Thomas Sowell and Walter Williams, but Karl Smith kept arguing that it was clearly Paul Krugman. (BTW it was an honor just to be nominated, and don’t worry I’m […]