All Posts Tagged With: "Paul Krugman"

Creating Jobs versus Creating Value

The next time anyone starts talking about job creation, stop listening. Jobs come into existence when entrepreneurs are free to create value.

2Feb2012 | Steven Horwitz | 26 comments | Continued

The Euro: The Folly of Political Currency

The financial markets continue to surge and collapse based on the latest news from Europe. As of this writing, the big events are Slovakia’s unwillingness to contribute to a bailout fund and the failure of Dexia, a French-Belgian bank with assets of almost $700 billion. As the sovereign debt crisis has intensified in the last [...]

4Jan2012 | Robert P. Murphy | 3 comments | Continued

Fearing Hayek

I’m sensing some panic in the air. Certain people seem mighty concerned that other people are . . . discovering Hayek. As a W. S. Gilbert character might say, Oh horror!

9Dec2011 | Sheldon Richman | 2 comments | Continued

More Government Action Needed for Job Recovery?

Would it come as a shock to hear one of the best-known apologists for government intervention in the economy admitting that it hasn’t worked (so far)? This is exactly what Nobel Prize-winning economist and uber-Keynesian Paul Krugman does in a New York Times column, stating, “[W]e are not now and have never been on the [...]

26Oct2011 | Tyler Watts | 1 comment | Continued

Paul Krugman: We Need to Be Attacked by Aliens

It is widely publicized by now that Paul Krugman, Nobel-Prize-winning economist and all-around smart fellow, said that an attack by aliens would do wonders for the economy because the government would have to engage in massive spending to repel the threat. This is just a variation on the old “War War II Ended the Depression” [...]

16Aug2011 | Sheldon Richman | 1 comment | Continued

Medical Consumers or Wards of the State?

Paul Krugman wants to know: “How did it become normal, or for that matter even acceptable, to refer to medical patients as ‘consumers’?” Let’s concede for argument’s sake there is something unattractive about viewing patients as consumers. Krugman writes, “Medical care, after all, is an area in which crucial decisions—life and death decisions—must be made. [...]

22Jun2011 | Sheldon Richman | 1 comment | Continued

Who Told Whom So?

From Mario Rizzo at ThinkMarkets: In recent months – or has it been years? – Paul Krugman and Brad DeLong have been saying, in effect, “We told you so – the stimulus was not enough. Look at the sluggish economy and high unemployment rate.” They are arguing that the problem with the fiscal stimulus is [...]

15Jun2011 | Sheldon Richman | 1 comment | Continued

Don’t Worry About the Yuan

Especially during dismal economic times, many Americans—goaded by media figures and politicians—look with suspicion on foreigners. This tendency is most obvious in anti-immigrant sentiment, but also manifests itself in a drive for protective tariffs and other trade restrictions. Over the past few years China’s “currency manipulation” has been a particularly hot-button issue. Pundits claim the [...]

25May2011 | Robert P. Murphy | 4 comments | Continued

The Keynesians’ Special Case

Governments can neither fool Mother Nature nor violate the laws of economics.

6Apr2011 | William L. Anderson | 7 comments | Continued

Japan’s Supposed Silver Lining

The Japanese people are going through sheer horror. To spin this tragedy into economic triumph is not just bad economics; it’s an obscenity.

23Mar2011 | William L. Anderson | 16 comments | Continued

And the Slump Goes On

Official economic statistics and the underlying economic reality sometimes differ starkly. Such discrepancies may be almost inevitable when a small group of macroeconomic experts sets the official dates for peaks and troughs of aggregate economic activity. The Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) recently “determined that a trough in [...]

24Feb2011 | Angel Martín Oro | 13 comments | Continued

War Would End the Recession?

In his September 28 New York Times blog post, Paul Krugman announced that “economics is not a morality play.” That turn of phrase is his way of defending the idea that in unusual times, such as the sort of deep recession we are in, we can get strange relationships between economic cause and effect. The result [...]

22Dec2010 | Steven Horwitz | 41 comments | Continued

Inflating Our Way to Prosperity?

As more and more money is pumped into the economy, not only do prices go up, but so do inflationary expectations.

10Nov2010 | William L. Anderson | 9 comments | Continued

Military Keynesians Are the Worst Keynesians of All

From the National Journal this week: Two wars are not enough. America’s economic outlook is so grim, and political solutions are so utterly absent, that only another large-scale war might be enough to lift the nation out of chronic high unemployment and slow growth, two prominent economists, a conservative and a liberal, said today. Nobelist [...]

6Oct2010 | Sheldon Richman | 4 comments | Continued

The Newspeak of Paul Krugman

No critic of free-market economics can ever again accuse us of being irrational and immoral when it is Paul Krugman who says destruction creates wealth, and war is an acceptable second-best path to economic growth.

30Sep2010 | Steven Horwitz | 39 comments | Continued

Cause, Effect, and the Current Depression

All too often people confuse cause and effect.

11Aug2010 | William L. Anderson | 10 comments | Continued

Good Economists, Bad Economists, and Walmart

Good economists are seldom popular with the political class. This is not unique to democratic systems; dictators like good economists even less. Why? As a rule, politics doesn’t educate. It obfuscates, pontificates, and prevaricates. It often seeks to advance the interests of the few at the expense of the many. It is a playground for [...]

29Jun2010 | Lawrence W. Reed | 13 comments | Continued
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