Search Results
According to His Own Criterion, Paul Krugman Has Low Moral Character
In today’s post titled “What to Do When You’re Wrong,” Krugman explains why his intellectual opponents on Fed policy are not just wrong, but immoral. Here’s the summary of his case against them: Barry Ritholtz reminds us that we’ve just passed the third anniversary of the debasement-and-inflation letter — the one in which a who’s […]
Read moreStockman Bask
I am reviewing David Stockman’s book, The Great Deformation, for Barron’s. I want to run two things by you folks that gave me pause. These probably won’t make it into the review, but I’m nonetheless curious: ==> On page 61 he writes: This arrangement [of Asian countries keeping their currencies artificially low vis-a-vis the dollar […]
Read moreThoughts on Marco Rubio and the Age of the Earth
Hold on to your hats, kids, I think I will alienate 95% of the blogosphere with this one (and without even cursing)… Marco Rubio has been getting hammered in the blogosphere from both right and left for his coy answer when a GQ interviewer asked him about the age of the Earth. The irony is, […]
Read moreWhy Dean Baker and Paul Krugman Were Wrong on the Debt Burden for At Least 11 Months
By this point, those of you who have been reading Free Advice should understand exactly what Don Boudreaux and Nick Rowe were saying, when Dean Baker and then Paul Krugman last year first started up the Great Debt Debate. What is still extremely interesting to me personally, is how many economics bloggers have concluded that […]
Read moreKrugman Almost Renders Landsburg and Me Speechless
On the issue of corporate taxation, Steve Landsburg recently declared that Krugman had rendered him “at a loss for words.” (Although I should add, Steve managed to find 543 words to put in his post.) In this post, Steve wrote: But if his point is that you must claim a share of those profits in […]
Read moreWe Will Not Solve the Debt Issue During This Generation
[Second UPDATE: Gene Callahan wants to be clear that he did acknowledge that he had initially misunderstood Nick Rowe’s model. Now that he gets what Rowe was describing, Gene concedes that it is possible, but points out (correctly) that we can achieve the same impact on everyone in the model through government tax-and-transfer actions, rather […]
Read moreRorschach on Economics
Someone (sorry I’ve forgotten who it was) emailed to get my reaction to this chart posted on Zero Hedge: The obvious “fight the power” reaction to the above is to say, “Those traitorous One World banksters! They outsource manufacturing jobs in order to fatten their own bottom line.” But that’s not necessarily what’s going on. […]
Read moreMy Critique of MMT
…is up at Mises.org. An excerpt: According to many proponents of MMT, “deficits don’t matter” when a sovereign government can issue its own fiat currency, and all the hand wringing over the government’s solvency is absurd. In fact, the MMTers claim that given the reality of a US trade deficit, a sharp drop in the […]
Read more
Recent Comments