Showing posts with label Paul Krugman. Show all posts
Showing posts with label Paul Krugman. Show all posts
October 26, 2010
May 17, 2010
January 13, 2010
PAUL KRUGMAN: USEFUL IDIOT
> IF EUROPEAN COUNTRIES BECAME U.S. STATES...
Krugman is not an idiot because he's not smart; he is! He's an idiot because he doesn't use his smarts to further or foster analysis. For him, ideological trumps logical...and in this instance, the logical, empirical analysis has whacked him upside the head, yet again.
-Link to Carpe Diem has the juice
Krugman is not an idiot because he's not smart; he is! He's an idiot because he doesn't use his smarts to further or foster analysis. For him, ideological trumps logical...and in this instance, the logical, empirical analysis has whacked him upside the head, yet again.
-Link to Carpe Diem has the juice
September 13, 2009
U OF CHICAGO PROFESSOR OF ECONOMICS JOHN COCHRANE
This is rich...
"If you believe the Keynesian argument for stimulus, you should think Bernie Madoff is a hero. He took money from people who were saving it, and gave it to people who most assuredly were going to spend it. Each dollar so transferred, in Krugman’s world, generates an additional dollar and a half of national income. The analogy is even closer. Madoff didn’t just take money from his savers, he essentially borrowed it from them, giving them phony accounts with promises of great profits to come. This looks a lot like government debt.
If you believe the Keynesian argument for stimulus, you don’t care how the money is spent. All this puffery about “infrastructure,” monitoring, wise investment, jobs “created” and so on is pointless. Keynes thought the government should pay people to dig ditches and fill them up.
If you believe in Keynesian stimulus, you don’t even care if the government spending money is stolen. Actually, that would be better. Thieves have notoriously high propensities to consume."
~John Cochrane
-Link via Carpe Diem
"If you believe the Keynesian argument for stimulus, you should think Bernie Madoff is a hero. He took money from people who were saving it, and gave it to people who most assuredly were going to spend it. Each dollar so transferred, in Krugman’s world, generates an additional dollar and a half of national income. The analogy is even closer. Madoff didn’t just take money from his savers, he essentially borrowed it from them, giving them phony accounts with promises of great profits to come. This looks a lot like government debt.
If you believe the Keynesian argument for stimulus, you don’t care how the money is spent. All this puffery about “infrastructure,” monitoring, wise investment, jobs “created” and so on is pointless. Keynes thought the government should pay people to dig ditches and fill them up.
If you believe in Keynesian stimulus, you don’t even care if the government spending money is stolen. Actually, that would be better. Thieves have notoriously high propensities to consume."
~John Cochrane
-Link via Carpe Diem
August 28, 2009
Subscribe to:
Posts (Atom)
