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Roosevelt the Free Marketeer

In a Washington Post article Ezra Klein rips John Tamny for giving a (very dumbed down) Austrian spin on the social function of recessions (HT2PK). Klein concludes: At this moment, federal spending does not exist in competition with household spending. It’s one of the last forces sustaining it. Indeed, the idea that the economy will […]

Being Tough But Fair With My Buddy Krugman

During my three-year stint as a professor, I strove to be “tough but fair.” (I think I got that description from the drill instructor from Full Metal Jacket, which in retrospect may not have been the ideal model.) Anyway, since I have been waterboarding Krugman’s articles recently, I feel compelled to pass this one along […]

Yet More on Cost/Benefits of Waxman-Markey

This MasterResource blog post repeats much of what I’ve written elsewhere, but here’s a new point I made in response to Silas Barta’s criticism on my Mises Daily piece: In conclusion, the above arguments do not show that the government should “do nothing.” If one accepted the premises of manmade climate change, and the property […]

What Did Krugman Know About the Housing Bubble, and When Did He Know It?

The plot thickens. If you need to get up to speed regarding Krugman’s alleged advocacy of a housing bubble in 2002, see here. Now then, Bob Roddis (drawing from the Mises.org blog I believe) sent me a Krugman blog post from Oct. 2006. In the post, Krugman is responding to reader questions regarding his NYT […]

Krugman Digging Himself Deeper

Wow this is getting hilarious. A Krugman quote from 2002 has been flying around the Internet, in which he seemed to advocate that Greenspan replace the Nasdaq bubble with a housing bubble. Now Krugman outdoes himself and posts this (HT2 von Pepe): One of the funny aspects of being a somewhat, um, forceful writer is […]

Same Old, Same Old: BLS Adjusts Away Two-Thirds of May’s Inflation

The trend continues. The actual CPI rose 0.3% in May–an annualized price inflation rate of 3.7%–but the BLS “seasonally adjusted” it down to 0.1%, which is a much more reasonable annualized inflation rate of 1.2%. For those of you who are newcomers, let me bring you up to speed: The BLS has “seasonally adjusted” the […]

Another Testimonial

George Smith adds his voice to the growing chorus: There are several excellent books on the Great Depression, but Robert P. Murphy’s guide is the most accessible and rebuts all the politically correct falsehoods about that era — the Fed, Hoover, Roosevelt, and World War II. With Obama on track to repeat FDR on a […]

Scott Sumner Reluctantly Agrees With Krugman on Inflation

This is a long but “neat” post by Scott Sumner. I still think he is basically wrong, but it’s always refreshing to see someone who admits when his “enemies” are right (in his mind). He also points out an odd inconsistency in Krugman’s writings: In my view Krugman is mixing science and advocacy in a […]