It's funny to hear him talk about the framework. The framework is a dead end. The logical contradictions have been exposed in Alex Gheg's video. Just ask 2 simple questions. What is quality? What is convenience? One equation can explain it all. youtube.com/watch?v=2c4mvGekYZY
As far as i can tell it doesn't require proof that you're in the professor's classes. like anyone can just go on and be like "this professor suck cock"
Although, the very notion of cutting may seem the right answer; the problem is that a majority of Democrats and Republicans that are liberals try to lean towards continuing to spend. In order to alleviate the country's economic and fiscal problems the answer would have to be to decrease spending and also create a means of organizing a new system of structural and a physical way of solving the problems of the Department of Transportation i.e highways, roads, etc...Also should taxes be raised?
Paul Krugman is a moron. Inflationary spending is a disaster. Never mind all the profits go to big corporations and none of it helps the poor. Inflation hurts the poorest the most and fucks over anyone who wants to try and save money. This is the "genius" who said a fabricated alien invasion would save the economy. Wow
Krugman: We didn't spend enough. that is the name of another video on youtube. I suggest you take a look at that clip... People who listen to this moron will ruin the country
anyone who listens to this fool needs to start being EDUCATED and stop REGURGITATING nonsense. Friedman and Sowell poo on this hack. pfff Krugman... LMFAO!!!!
Please note that my book Keynes Hayek: The Clash That Shaped Modern Economics is published by W.W.Norton in October.
Professor John B.Taylor says that: “Nicholas Wapshott brings the Keynes-Hayek fight of the 20th century back to life, making the clash both entertaining and highly relevant for understanding economic crises of the 21st century.”
Read an extract at: sites.google.com/site/wapshottkeyneshayek/
ATTENTION ALL ECON STUDENTS: This guy is a lightweight! Milton Friedman offers much more substance and truth. Krugman still won't debate Schiff and is producing a generation of future potential economists that also won't understand economics. He is teaching a generation to borrow and spend until hyperinflation and depression!!!
@AroundSun Why should he debate Schiff? Who is Schiff? Krugman is debating with Taylor, and he regularly argues on his blog with Mankiw, Fama, Chochran. Schiff has only an undergraduate degree, no real understanding of economic modelling or anything to that regard. He is someone that made some money on the stock market. So what? Other people made even more money and yet never claim to understand economics at a professional or academic level.
@endrity cuz krugman knows he'd get destroyed thats why. he thinks we can spend out way out of a spending induced crisis. hahaha youre just as liberal and as braindead as he is...he wants to try his little college experiments with the world economy. little boy, policy makers are the ones least effected by their decisions. krugmans nobel prize was for nothing more than discovering economic patterns. he is just a fucking socialist. schiff predicted the crisis you clown, that is a fact!
@Zatzzo I counted it... Three times in three comments you have tried to appeal to your opponents credibility rather then to argue against his points. Please do the latter.
@Zatzzo Sorry my bad. I assumed the convo was just a continuation and didn't pay enough attention to the author. You are officially exonerated from the third infraction.
@Zatzzo Only a 15 year old could believe that saving and investing is bad for an economy, and that the only way to get out of a spending induced crisis is to spend more, particularly on the people who keep politicians in office. Yes, I go along with that entirely. And anyone who disagrees must be uneducated. Hitler would believe that you are a very educated (gullible) follower.
@Zatzzo It's okay you leftist, modern liberal, economic illiterate. Rome is burning and all you gullible fools can say is SPEND MORE! More money to companies who put politicians in office! More money for the banks and 3rd world countries! Let's keep printing and devaluing the dollar because it's good for an economy! More taxes!! More social programs people can leech off of, then they can go bankrupt. Less capital for entrepreneurship, production, and job creation.
@Zatzzo IS THIS A JOKE? IS THIS A JOKE? IS THIS A JOKE? Do you have anything to say to refute my claims or are you just going to keep asking the same braindead questions to avoid having your ass handed to you?? You have said NOTHING so I will assume that you know I am right. Good day braindead liberal!!
@Zatzzo Private charities are more efficient than the federal government, or any government for that matter because they have to be, BY DESIGN. The private sector always has a limited amount of capital, no matter how high those limits are, it's still a limit. They can only receive revenue voluntarily. Government on the other hand never runs out of money and uses force to collect revenues. Keep playing this poor vs rich chant see how far it gets you. Keep listening to owe bama LMAO!!!
@keithradamsstatus liberals can't do anything without conservatives. if they could, they would form collectively voluntarily and wouldn't have to force others into their nonsense. see how dumb you are and don't even know it?
@AroundSun Good post. Sadly this kind of stupidity not only pervades among the left but also the corrupt political elite in both parties. It will pervade as long as the government and it's corporate parasites spread the propaganda among our universities and airwaves
@AroundSun Lets get away from the name calling and insults, I know ppl are extra brave and like to talk tough behind a keyboard, but don't say anything you wouldn't say to a persons face. The market economy has hit a bump in the road as late and the housing bubble just illustrates how inefficient they can be.
@keithradamsstatus HAHAHA we never had a free market shit for brains. You assume that the market was responsible for governmental failures and the federal reserve. Bubbles are not created by the free market, they are because of EASY MONEY. Low interest rates set by the fed. It is impossible to get through a simple minded liberal thick scull like yours especially if you are still in the "blame the free market for the recent recession" mindset. Just shows how assbackwards you are.
@AroundSun I see you are 5 years old and like to make excuses for the failure of market fundamentalism. The free market that exits doesn't really exist?!? Low interest rate create bubbles? I see this discussion is over because you don't understand basic economics, please.
@keithradamsstatus yes, artifically low interest rates is what created the housing bubble you fucking moron. who needs to learn economics? 130+ trillion in debt and unfunded liabilities!! how did the market cause THAT you braindead fuck? oh liberals...always wrong - never right...so sad
It is absolutely right that the most students hold the misconception of Economics relating with Business, and I used to think too. Similarly, when he said that there are many ways of doing doing Economics I think he's right on that too.
Krugman is a pencil pusher. He doesn't know how business works in the real world. He's a laughing stock by the worlds business entrepreneurs. He's got a gimmick and he's exploiting people's ignorance. Jim Rogers is right, Krugman is an IDIOT
@UnqualifiedEconomist I wrote Economics Principles & Practices, but I have only submitted my writings to The Wall Street Journal and The Washington Post.
Ha ha ha! Krugman is backward. Rather than interpreting history through the lens of economic theory, he uses historical conjecture as the foundation of his economic analysis! :D :D :D
I'm jubilant, but I assure you I'm not kidding. Start watching this video at about the 3:50 mark. He wraps up his point in calling himself an "historical parallels guy".
You could also read any number of Paul Krugman's books. The latest edition of 'Return of Depression Economics', for example. The introduction (or preface?) is chock-full of "historical parallel" (post hoc ergo propter hoc) reasoning.
The Tea Party doesn't have economic theory. They only have doctrine. You need to recognize the distinction, and not invoke the Tea Party in a debate on methodology. Besides, what the hell did I say that sounded even remotely Tea-partyesque? Are you so shallow that you assume anyone who disagrees with you must be in rank with the Tea Party?
Quit getting your education from the op-ed section of the newspaper. I take French Liberal economist Jean-Baptiste Say's position on methodology.
Dude, the Tea Party is a Koch Brothers gig. You read "Covert Operations" by Jane Mayer, right?
The reason why The Mises Institute exists is because the Misesians got sick of the Kochtopus trying to bury Mises's system in favour of Ayn Rand & Milton Friedman.
The reason why the Tea Party exists is so that Koch and the GOP can coöpt the libertarian zeitgeist, and turn it into another Reagan Revolution. Austro-Misesian Economics didn't get hijacked. The Ron Paul Revolution got hijacked.
Do you like Stiglitz? In his capacity as an economist, I like him a lot. That's not to say I agree with him, but his method is proper. Are you familiar with the "Shapiro-Stiglitz model"? It explains WHY wages are "sticky downward", and hence WHY the job market is slow to adjust during a recession.
Market phenomenon needs to be explained from the bottom-up. Otherwise it's just ad hoc (or post hoc ergo propter) empiricism.
@gunsandbullhorns I don't care who started them, they have the right idea about limited government; plain and simple. If anyone can look around the world and see what's happening and think the obama admin is doing anything good is seriously hypnotized.
@WingThaiJ Limited government or small government may be a pipe dream, because everyone loves big government (businesses, lobbyist, Dems & Repubs). No one wants to cut anything, from the military budget to medicare - to much pain involved. I say cutting the military budget in half is a start.
@gunsandbullhorns Krugman is a pencil pusher. He doesn't know how business works in the real world. He only tries to see how he can make things as he thinks they should be, like most dictator type liberals; He's a laughing stock by the worlds business entrepreneurs. He's got a gimmick and he's exploiting people's ignorance. Jim Rogers is right, Krugman is an IDIOT
Yeah. Krugman is completely batshit. He claims to be a Keynesian, but most of his explanations can be directly refuted by the standard Keynesian textbook. So what does that make HIM? I know he's dishonest, but I'm beginning to suspect he might actually be as retarded as he writes.
We had no success stories in the 70s because of keynesianism and the stagflation that resulted but good old Friedman and Volcker sorted that out. To bad Greenspan had to come along.
It's funny to hear him talk about the framework. The framework is a dead end. The logical contradictions have been exposed in Alex Gheg's video. Just ask 2 simple questions. What is quality? What is convenience? One equation can explain it all. youtube.com/watch?v=2c4mvGekYZY
IlirMr 1 week ago
china is poor?
mentalshade 1 month ago
@mentalshade
I think he is addressing the "per capita income" of the individual Chinese citizen in relation to the Western world.
gundamWWW 1 month ago
@gundamWWW makes sense.
mentalshade 1 month ago
Economies grow in an environment of liberty. They shrink in the environment of government parasitism.
SDS4BO 1 month ago
Krugman is an amazing columnist but a horrible teacher, according to rate my professor.
dthomas9444 2 months ago
@dthomas9444
lol I looked that up
As far as i can tell it doesn't require proof that you're in the professor's classes. like anyone can just go on and be like "this professor suck cock"
fountainherz 1 week ago
Although, the very notion of cutting may seem the right answer; the problem is that a majority of Democrats and Republicans that are liberals try to lean towards continuing to spend. In order to alleviate the country's economic and fiscal problems the answer would have to be to decrease spending and also create a means of organizing a new system of structural and a physical way of solving the problems of the Department of Transportation i.e highways, roads, etc...Also should taxes be raised?
MrMcfly102 2 months ago
Paul Krugman is a moron. Inflationary spending is a disaster. Never mind all the profits go to big corporations and none of it helps the poor. Inflation hurts the poorest the most and fucks over anyone who wants to try and save money. This is the "genius" who said a fabricated alien invasion would save the economy. Wow
bschou 2 months ago 6
Comment removed
cazal607 2 months ago
STFU Krugman.
H1TMANactual 2 months ago
My dad loves your shit.
npagano05 2 months ago
Break some windows
MrGnode 3 months ago
Krugman: We didn't spend enough. that is the name of another video on youtube. I suggest you take a look at that clip... People who listen to this moron will ruin the country
AroundSun 5 months ago
anyone who listens to this fool needs to start being EDUCATED and stop REGURGITATING nonsense. Friedman and Sowell poo on this hack. pfff Krugman... LMFAO!!!!
AroundSun 6 months ago
Lets cap economic growth and create more inefficient gov't jobs. Lets keep borrowing too!! MORE MORE MORE! Fucking morons.
AroundSun 6 months ago
This has been flagged as spam show
Please note that my book Keynes Hayek: The Clash That Shaped Modern Economics is published by W.W.Norton in October.
Professor John B.Taylor says that: “Nicholas Wapshott brings the Keynes-Hayek fight of the 20th century back to life, making the clash both entertaining and highly relevant for understanding economic crises of the 21st century.”
Read an extract at: sites.google.com/site/wapshottkeyneshayek/
Nicholas Wapshott
nhwapshott 8 months ago
s.Korea,,got large investment from japan,, and it adapted a model that collaborated between businesses in it
HardCoreProgrammer1 8 months ago
ATTENTION ALL ECON STUDENTS: This guy is a lightweight! Milton Friedman offers much more substance and truth. Krugman still won't debate Schiff and is producing a generation of future potential economists that also won't understand economics. He is teaching a generation to borrow and spend until hyperinflation and depression!!!
AroundSun 10 months ago
@AroundSun And who are you?
sadhaklal 10 months ago
@sadhaklal Someone who doesn't think that Isaac Asimov should play god with the economy
AroundSun 10 months ago
@AroundSun Why should he debate Schiff? Who is Schiff? Krugman is debating with Taylor, and he regularly argues on his blog with Mankiw, Fama, Chochran. Schiff has only an undergraduate degree, no real understanding of economic modelling or anything to that regard. He is someone that made some money on the stock market. So what? Other people made even more money and yet never claim to understand economics at a professional or academic level.
endrity 7 months ago
@endrity cuz krugman knows he'd get destroyed thats why. he thinks we can spend out way out of a spending induced crisis. hahaha youre just as liberal and as braindead as he is...he wants to try his little college experiments with the world economy. little boy, policy makers are the ones least effected by their decisions. krugmans nobel prize was for nothing more than discovering economic patterns. he is just a fucking socialist. schiff predicted the crisis you clown, that is a fact!
AroundSun 7 months ago
@AroundSun
how come people who dont seem to like krugmann say "fuck" all the time?
Zatzzo 6 months ago
@Zatzzo Because he is a shit for brains that has the power to influence leaders to ruin our country needle dick
AroundSun 6 months ago
@AroundSun
you arent older than 15, are you?
Zatzzo 6 months ago
@Zatzzo I counted it... Three times in three comments you have tried to appeal to your opponents credibility rather then to argue against his points. Please do the latter.
Cheers.
daobagua 6 months ago
@daobagua
errrrmm.... i only posted two comments. one, two. not three. cheers.
Zatzzo 6 months ago
@Zatzzo Sorry my bad. I assumed the convo was just a continuation and didn't pay enough attention to the author. You are officially exonerated from the third infraction.
Cheers.
daobagua 6 months ago
@Zatzzo Only a 15 year old could believe that saving and investing is bad for an economy, and that the only way to get out of a spending induced crisis is to spend more, particularly on the people who keep politicians in office. Yes, I go along with that entirely. And anyone who disagrees must be uneducated. Hitler would believe that you are a very educated (gullible) follower.
AroundSun 6 months ago
@AroundSun
funny, now youre talking about hitler. is this a joke?
Zatzzo 6 months ago
@Zatzzo It's okay you leftist, modern liberal, economic illiterate. Rome is burning and all you gullible fools can say is SPEND MORE! More money to companies who put politicians in office! More money for the banks and 3rd world countries! Let's keep printing and devaluing the dollar because it's good for an economy! More taxes!! More social programs people can leech off of, then they can go bankrupt. Less capital for entrepreneurship, production, and job creation.
AroundSun 6 months ago
@AroundSun
3rd world countries? is this a joke?
Zatzzo 6 months ago
@Zatzzo IS THIS A JOKE? IS THIS A JOKE? IS THIS A JOKE? Do you have anything to say to refute my claims or are you just going to keep asking the same braindead questions to avoid having your ass handed to you?? You have said NOTHING so I will assume that you know I am right. Good day braindead liberal!!
Good idea, avoid further embarrassment
AroundSun 6 months ago
@AroundSun
im sure youre very rich, so living without any social programs is going to be just great for you and all of your family. good for you.
Zatzzo 6 months ago
@Zatzzo Private charities are more efficient than the federal government, or any government for that matter because they have to be, BY DESIGN. The private sector always has a limited amount of capital, no matter how high those limits are, it's still a limit. They can only receive revenue voluntarily. Government on the other hand never runs out of money and uses force to collect revenues. Keep playing this poor vs rich chant see how far it gets you. Keep listening to owe bama LMAO!!!
AroundSun 5 months ago
@AroundSun
yeah, LMAO
Zatzzo 5 months ago
@Zatzzo yea, you lose, don't ever speak again
AroundSun 5 months ago
@AroundSun
stop being so socialistic. you really should work on that.
Zatzzo 5 months ago
@Zatzzo Stop being such an economic illiterate. You should really work on that you fake liberal
AroundSun 5 months ago
@Zatzzo This Around guy only knows how to insult ppl it's best to just ignore him, don't feed the troll - he's a true believer.
keithradamsstatus 5 months ago
@keithradamsstatus
hey thanks man, youre right. its a bad habit of mine.
Zatzzo 5 months ago
@Zatzzo NP, I forget myself - you feed the trolls they only grow bigger.
keithradamsstatus 5 months ago
@keithradamsstatus liberals can't do anything without conservatives. if they could, they would form collectively voluntarily and wouldn't have to force others into their nonsense. see how dumb you are and don't even know it?
AroundSun 5 months ago
@AroundSun
Pretty ballsy behind a keyboard aren't you?
npagano05 2 months ago
@AroundSun Good post. Sadly this kind of stupidity not only pervades among the left but also the corrupt political elite in both parties. It will pervade as long as the government and it's corporate parasites spread the propaganda among our universities and airwaves
bschou 2 months ago
@AroundSun Lets get away from the name calling and insults, I know ppl are extra brave and like to talk tough behind a keyboard, but don't say anything you wouldn't say to a persons face. The market economy has hit a bump in the road as late and the housing bubble just illustrates how inefficient they can be.
keithradamsstatus 6 months ago
@keithradamsstatus HAHAHA we never had a free market shit for brains. You assume that the market was responsible for governmental failures and the federal reserve. Bubbles are not created by the free market, they are because of EASY MONEY. Low interest rates set by the fed. It is impossible to get through a simple minded liberal thick scull like yours especially if you are still in the "blame the free market for the recent recession" mindset. Just shows how assbackwards you are.
AroundSun 5 months ago
@AroundSun I see you are 5 years old and like to make excuses for the failure of market fundamentalism. The free market that exits doesn't really exist?!? Low interest rate create bubbles? I see this discussion is over because you don't understand basic economics, please.
keithradamsstatus 5 months ago
@keithradamsstatus yes, artifically low interest rates is what created the housing bubble you fucking moron. who needs to learn economics? 130+ trillion in debt and unfunded liabilities!! how did the market cause THAT you braindead fuck? oh liberals...always wrong - never right...so sad
AroundSun 5 months ago
It is absolutely right that the most students hold the misconception of Economics relating with Business, and I used to think too. Similarly, when he said that there are many ways of doing doing Economics I think he's right on that too.
mango119 1 year ago
This has been flagged as spam show
Krugman is a pencil pusher. He doesn't know how business works in the real world. He's a laughing stock by the worlds business entrepreneurs. He's got a gimmick and he's exploiting people's ignorance. Jim Rogers is right, Krugman is an IDIOT
WingThaiJ 1 year ago
@abuabu41 There you have it ladies and gentleman.Tea Party checking in!
Vidar1979 1 year ago
So, what New York Times column and economics textbook do you all write?
UnqualifiedEconomist 1 year ago 14
@UnqualifiedEconomist
Who are you talking to?
gunsandbullhorns 1 year ago
@UnqualifiedEconomist I wrote Economics Principles & Practices, but I have only submitted my writings to The Wall Street Journal and The Washington Post.
wallstreetatheist 3 months ago
@UnqualifiedEconomist - It took a moment for me to see that your user name ties in with the joke. ;-D
StateExempt 2 months ago
@UnqualifiedEconomist Excellent counter-argument. You've mastered the use of logical fallacies.
plzenjoymybigolpenis 2 months ago
@UnqualifiedEconomist whahahaha Nice said bro! BTW Ron Paul 2012 every day all day!
maestro1110 1 month ago
Comment removed
thomasacox 1 year ago
Ha ha ha! Krugman is backward. Rather than interpreting history through the lens of economic theory, he uses historical conjecture as the foundation of his economic analysis! :D :D :D
gunsandbullhorns 1 year ago
@gunsandbullhorns Your kidding right?
Vidar1979 1 year ago
@Vidar1979
I'm jubilant, but I assure you I'm not kidding. Start watching this video at about the 3:50 mark. He wraps up his point in calling himself an "historical parallels guy".
You could also read any number of Paul Krugman's books. The latest edition of 'Return of Depression Economics', for example. The introduction (or preface?) is chock-full of "historical parallel" (post hoc ergo propter hoc) reasoning.
gunsandbullhorns 1 year ago
@gunsandbullhorns Wow you have been neck deep in Tea partyomics.
Vidar1979 1 year ago
@gunsandbullhorns If you don't want to draw a parallel between Japan and US right now then it is at your detriment.
Vidar1979 1 year ago
@Vidar1979
The Tea Party doesn't have economic theory. They only have doctrine. You need to recognize the distinction, and not invoke the Tea Party in a debate on methodology. Besides, what the hell did I say that sounded even remotely Tea-partyesque? Are you so shallow that you assume anyone who disagrees with you must be in rank with the Tea Party?
Quit getting your education from the op-ed section of the newspaper. I take French Liberal economist Jean-Baptiste Say's position on methodology.
gunsandbullhorns 1 year ago
@gunsandbullhorns Luwig Vos Mises has been hijacked by an equally retarded populace the Tea Party you deserve each other.
Vidar1979 1 year ago
@Vidar1979
Dude, the Tea Party is a Koch Brothers gig. You read "Covert Operations" by Jane Mayer, right?
The reason why The Mises Institute exists is because the Misesians got sick of the Kochtopus trying to bury Mises's system in favour of Ayn Rand & Milton Friedman.
The reason why the Tea Party exists is so that Koch and the GOP can coöpt the libertarian zeitgeist, and turn it into another Reagan Revolution. Austro-Misesian Economics didn't get hijacked. The Ron Paul Revolution got hijacked.
gunsandbullhorns 1 year ago
@gunsandbullhorns
I was making a point about economic science...
Do you like Stiglitz? In his capacity as an economist, I like him a lot. That's not to say I agree with him, but his method is proper. Are you familiar with the "Shapiro-Stiglitz model"? It explains WHY wages are "sticky downward", and hence WHY the job market is slow to adjust during a recession.
Market phenomenon needs to be explained from the bottom-up. Otherwise it's just ad hoc (or post hoc ergo propter) empiricism.
gunsandbullhorns 1 year ago
@gunsandbullhorns I don't care who started them, they have the right idea about limited government; plain and simple. If anyone can look around the world and see what's happening and think the obama admin is doing anything good is seriously hypnotized.
WingThaiJ 1 year ago
@WingThaiJ Limited government or small government may be a pipe dream, because everyone loves big government (businesses, lobbyist, Dems & Repubs). No one wants to cut anything, from the military budget to medicare - to much pain involved. I say cutting the military budget in half is a start.
keithradamsstatus 5 months ago 13
@keithradamsstatus That's true. Everyone likes to suck on teh govt tittays!
H1TMANactual 2 months ago
@keithradamsstatus I don't think most people would mind cutting the military budget, really.
GiantSandles 2 months ago
@gunsandbullhorns Krugman is a pencil pusher. He doesn't know how business works in the real world. He only tries to see how he can make things as he thinks they should be, like most dictator type liberals; He's a laughing stock by the worlds business entrepreneurs. He's got a gimmick and he's exploiting people's ignorance. Jim Rogers is right, Krugman is an IDIOT
WingThaiJ 1 year ago
@WingThaiJ
Yeah. Krugman is completely batshit. He claims to be a Keynesian, but most of his explanations can be directly refuted by the standard Keynesian textbook. So what does that make HIM? I know he's dishonest, but I'm beginning to suspect he might actually be as retarded as he writes.
gunsandbullhorns 1 year ago
@gunsandbullhorns Now he thinks Death panels are needed for the new health care system and thinks that's ok..
WingThaiJ 1 year ago
We had no success stories in the 70s because of keynesianism and the stagflation that resulted but good old Friedman and Volcker sorted that out. To bad Greenspan had to come along.
bonfirejovi 1 year ago
A fool, a true fool. Sad anybody listens to this thing.
putittogether 1 year ago