TimesTalks: Paul Krugman: Understanding the Stimulus Package
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It seems that people who hate Paul Krugman hate him because they hate intellectuals in general. I find they often don't even understand his opinions and theories, they just hate him. Kind of sad because he actually a very good thinker that should be listened to.
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@ProsecuteCheneyEtAl Well said.
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@00dfm00 You think he wouldn't? That if people actually listened to him and he turned out to be wrong, that he wouldn't be happy to give up his nobel?
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Krugman has such a superficial understanding of economics it blows my mind to think he was given a Nobel. No mention of higher taxes, no mention of the capital goods production cycle, no mention that while retail may shrink, production areas remote from the consumer are looking at hiring... If Krugman is so confident with his ideas, he should stake his Nobel on it.
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So why aren't they lending? Perhaps the banks will wake up and lend us a dime someday. And don't pretend to know what his "theory" is. Its best when money flows.
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"The government can provide the spending power to bridge you across this period when the economy is in deep trouble."
Lol, that's our government, always building bridges to nowhere.
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The notion that government regulation of the economy is bad is a theory. It has been tested and it always fails.
People who maintain a theory that has been falsified over and over again are driven by some other force than rationality.
ProsecuteCheneyEtAl 2 years ago 4
@00dfm00 Sorry, but a PhD from MIT doesn't give you a superficial understanding of Economics. There is just not enough time in the day to go into that with the public.
fdutjklr 1 year ago 3