All Posts Tagged With: "Paul Krugman"
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 | ContinuedThe 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 | ContinuedCause, Effect, and the Current Depression
All too often people confuse cause and effect.
11Aug2010 | William L. Anderson | 10 comments | ContinuedGood 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 | ContinuedCorruption in Government? Shocking!
It’s funny how the people who push hardest for government intervention in more and more areas are the first to gripe that everything has become politicized. What were they expecting? Did they forget that government is a political institution? Paul Krugman and Chris Matthews, among other Progressives, are apoplectic because two senators of the minority [...]
20Apr2010 | Sheldon Richman | 3 comments | ContinuedGovernment Must Stimulate to Avoid a 1937-Style Recession?
It is rather unfortunate that the Royal Swedish Academy of Sciences’ Economics Prize Committee chose to award the 2008 Nobel Prize in economics to Paul Krugman. It is not that Krugman did not deserve the prize—his contributions to international trade theory were indeed substantive and valuable. The problem is that by 2008 Krugman had long [...]
24Mar2010 | Ivan Pongracic Jr. | 6 comments | ContinuedObamacare and the Legacy of Progressivism
In the end, the bill will be whatever the White House wants it to be. The ultimate legacy of “Progressivism” is that political debate no longer matters.
23Dec2009 | William L. Anderson | 4 comments | ContinuedThe Return of Depression Economics and the Crisis of 2008
Reading The Return of Depression Economics, I have to admit I was surprised. Paul Krugman, 2008 Nobel Prize winner in economics and New York Times columnist, isn’t as feisty and partisan in the book as he is in his column. Moreover, he presents some useful information about the many economic collapses that have occurred in [...]
18Nov2009 | William L. Anderson | 14 comments | ContinuedCap and Trade 101
Paul Krugman is trying to lecture us about the economics of cap and trade this morning. He has a nice little graphic explaining the relationship between caps and costs. He insists that the blue “rents” in the chart should not be factored as costs because: The creation of cap and trade means that emission permits [...]
27Sep2009 | Mike Van Winkle | 5 comments | ContinuedRecovery or Not? And How?
NYU economist Mario Rizzo adds some good sense to the discussion of whether, as Paul Krugman contends, President Obama’s policies are making the economy recover. A taste: [W]hat is the mechanism by which about $70 billion in extra spending (the amount of the total package now spent) reduces the rate of increase in unemployment and [...]
11Aug2009 | Sheldon Richman | 0 comments | ContinuedMainstream Macro in an Austrian Nutshell
While the events that have unfolded over the past year have required some outside-the-box theorizing by mainstream macroeconomists, the econo-mists of the Austrian school can offer a straightforward, fill-in-the-blanks explanation by drawing on the theory first articulated by Ludwig von Mises and then developed by Friedrich A. Hayek.
24Apr2009 | Roger W. Garrison | 16 comments | ContinuedNews Flash: FDR Didn’t Restore Prosperity!
The New Deal did not end the Great Depression. This statement will come as no shock to Freeman readers, but it will to the many people who have never encountered it before. Now people are encountering it—in newspaper columns and news-talk shows. Why, after years of being taught that Franklin Roosevelt’s economic intervention saved the [...]
2Mar2009 | Sheldon Richman | 5 comments | ContinuedKrugman Watch, cont'd.
[I]t’s clear that when it comes to economic stimulus, public [taxpayer] spending provides much more bang for the buck than tax cuts — and therefore costs less per job created … — because a large fraction of any tax cut will simply be saved. –“Bad Faith Economics” And saving has absolutely nothing to do with [...]
26Jan2009 | Sheldon Richman | 2 comments | ContinuedKrugman Watch
Because someone has to do it. Remember, Herbert Hoover didn’t have a problem making unpleasant decisions: he had the courage and toughness to slash spending and raise taxes in the face of the Great Depression. Unfortunately, that just made things worse. –“Stuck in the Middle” Federal spending rose in 1930 and1931.From Murray Rothbard’s America’s Great [...]
26Jan2009 | Sheldon Richman | 5 comments | ContinuedPaul Krugman Flunks Capital Theory
Paul Krugman is said to have beat up on George Will during this joint appearance on ABC’s “This Week” back in November. But all Krugman really did was show that he, like Keynes, holds an unrealistic Play-Doh model of capital, as opposed to the heterogeneous, multistage, intertemporal structure-of-production model of the Austrian school. When Will [...]
21Jan2009 | Sheldon Richman | 0 comments | ContinuedShame on You, Paul Krugman
We are certainly used to the fallacious Keynesian “economics” that pours forth from most of Paul Krugman’s New York Times columns. That’s bad enough. But dishonesty too? What’s the excuse for that? In a recent column called “Fifty Herbert Hoovers,” Krugman expressed fear that the nation’s governors would follow in the footsteps of Hoover, with [...]
5Jan2009 | Sheldon Richman | 7 comments | ContinuedSo Now Saving Is Bad
Keynes is back! Unfortunately. If you want to make sense of most of the reporting and commentary on the econony these days, you have to realize that most reporters and commentators and politicians are working from the Keynesian position that, as Paul Krugman puts it, “[I]ndividual virtue can be public vice… attempts by consumers to [...]
13Nov2008 | Sheldon Richman | 0 comments | Continued-
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