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Tag archive for ‘Austrian economics’
By Dr. William Anderson On Monday, May 14th, 2012
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Krugman: More inflation and higher taxes will end the depression

In recent months, Paul Krugman has become an out-and-out cheerleader for inflation, claiming that throwing out more dollars somehow will revive the economy because people will quickly spend their depreciating money More...

By Dr. William Anderson On Tuesday, March 20th, 2012
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Heading for double-digit inflation?

Whenever someone mentions inflation, Paul Krugman is all over the statement, trotting out the CPI which shows relatively low overall price increases at about three percent. (He holds this as “proof” More...

By Dr. William Anderson On Monday, March 19th, 2012
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More economic illiteracy from the NY Times

Paul Krugman seems to be in a bi-partisan spirit in his latest column, claiming that Mitt Romney is a “closet Keynesian,” and he may be right. I’m not sure that Romney is a closet anything other More...

By Dr. William Anderson On Monday, March 12th, 2012
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Will inflation save the European economy?

In his latest column, Paul Krugman believes that he has the answer to saving the European economy from disaster. The solution? In a word, inflation. Yes, if the European Central Bank will show the “courage” More...

By Dr. William Anderson On Wednesday, December 21st, 2011
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Drowning in Keynesian fallacies

Whenever a Keynesian, be it Paul Krugman or even the original Keynesian, try to “refute” Say’s Law, they generally create a caricature or straw man, and then refute that instead of dealing with More...

By Dr. William Anderson On Monday, December 19th, 2011
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Keynesians: Fight the collapse of the bubbles by creating bigger bubbles

In 2002, Paul Krugman made his infamous statement: To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul More...

By Dr. William Anderson On Wednesday, September 28th, 2011
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Keynesianism: The (near) 80-year-old fallacy

One of the things that interests me about Paul Krugman is his use of the word “fallacy” when applied to economics. When I first was learning about economic fallacies, I was taught that they are committed More...

By Dr. William Anderson On Monday, August 15th, 2011
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The Keynesian game: Let’s pretend we are rich even though it is just an inflation mirage

At the heart of the recent Paul Krugman screeds has been this belief: In a recession, we must spend money as though we were wealthy. How do we do that? As Krugman has said many times, the government debases the More...

By Dr. William Anderson On Tuesday, December 28th, 2010
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Is ‘Volatility’ the Last Refuge of a Scoundrel, Or At Least a Keynesian?

To “prove” his argument that commodity prices and inflation have no relationship, Krugman has a blog post in which he uses the graph below. The problem is this: Which commodities? We have seen prices More...

By Dr. William Anderson On Saturday, December 11th, 2010
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Paul Krugman: Holding Economic Logic Hostage to Keynesian Nonsense, Part I

I must admit I enjoy reading Paul Krugman’s material on the NY Times page if for no other reason than he does a good job of explaining bad “economic theory” in the form of what Robert Higgs calls More...

By Robert On Friday, April 2nd, 2010
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The dollar era is nearly over

While listening to an interview with a MIT economics professor today on Tech Ticker, I was astounded by how he answered the following question, Is America headed down a similar path as Greece? photo: TaxRebate.org.uk Professor More...

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