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...
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...
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...
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...
David Broder perpetuates the fallacy that war is good for the economy
Last Sunday’s Washington Post had veteran journalist David Broder suggesting that President Obama starting a war with Iran could be the trigger to bring us out of our economic doldrums. He of course uses FDR and More...
Paul Krugman is still an idiot
“It’s time to admit that what we have now isn’t a recovery, and do whatever we can to change that situation,” Nobel Laureate Paul Krugman wrote in the New York Times on Friday. You mean Krugman More...
Paul Krugman has no understanding of libertarianism
In a New York Times opinion piece last Friday, Nobel Prize economist, Paul Krugman took a shot at libertarianism and free markets. He points to an interview with the late Milton Friedman where he said that product More...
At this rate Japan’s economy will never recover-we should take notice
Japan has been in serious economic doledrums for at least two decades now. Their horrible economic policies have done nothing to improve the situation. These are same Keynesian economic policies that the United More...