Is a Weak Dollar a Strong Sign? Not So Fast!
Posted in Not So Fast! on 14 October 2009
Stats: 24 views and 4 Comments Readers of George Orwell’s 1984 might recall Big Brother’s claims that “war is peace” or “freedom is slavery.” Orwell was writing a novel, but some of the commentary these days makes me think that elite economists have taken residence in Oceania’s “Ministry of Truth.” Today, the champion—the uncontested champion of Orwell’s ...
Posted in Not So Fast! on 14 October 2009
Stats: 24 views and 4 Comments Readers of George Orwell’s 1984 might recall Big Brother’s claims that “war is peace” or “freedom is slavery.” Orwell was writing a novel, but some of the commentary these days makes me think that elite economists have taken residence in Oceania’s “Ministry of Truth.” Today, the champion—the uncontested champion of Orwell’s ...
Do We Need Another Stimulus?
Posted in Not So Fast! on 7 October 2009
Stats: 6 views and 1 Comment The New York Times editorial page has spoken: We need another “stimulus” or the economy will be moribund for the foreseeable future. On October 2 Paul Krugman declared: Yes, the Federal Reserve and the Obama administration have pulled us “back from the brink” — the title of a new paper by ...
Posted in Not So Fast! on 7 October 2009
Stats: 6 views and 1 Comment The New York Times editorial page has spoken: We need another “stimulus” or the economy will be moribund for the foreseeable future. On October 2 Paul Krugman declared: Yes, the Federal Reserve and the Obama administration have pulled us “back from the brink” — the title of a new paper by ...
Krugman Also Gets It Wrong
Posted in Not So Fast! on 9 September 2009
Stats: 6 views and 5 Comments In 1998 Paul Krugman wrote an attack on the Austrian theory of the business cycle (ATBC), saying that it was about as credible as the “phlogiston theory of fire.” Not surprisingly, he managed not only to mislabel the ATBC (calling it a “Hangover Theory”) but also proved incapable even of ...
Posted in Not So Fast! on 9 September 2009
Stats: 6 views and 5 Comments In 1998 Paul Krugman wrote an attack on the Austrian theory of the business cycle (ATBC), saying that it was about as credible as the “phlogiston theory of fire.” Not surprisingly, he managed not only to mislabel the ATBC (calling it a “Hangover Theory”) but also proved incapable even of ...
Are Medical Markets an Inherent Failure?
Posted in Not So Fast! on 5 August 2009
Stats: 17 views and 5 Comments Nobel Prize-winning economist Paul Krugman recently made an extraordinary statement regarding the application of markets to medical care. Writing in his July 31 column, Krugman stated: Right-wing opponents of reform would have you believe that President Obama is a wild-eyed socialist, attacking the free market. But unregulated markets don’t work for ...
Posted in Not So Fast! on 5 August 2009
Stats: 17 views and 5 Comments Nobel Prize-winning economist Paul Krugman recently made an extraordinary statement regarding the application of markets to medical care. Writing in his July 31 column, Krugman stated: Right-wing opponents of reform would have you believe that President Obama is a wild-eyed socialist, attacking the free market. But unregulated markets don’t work for ...
Have Government Deficits “Saved the World”?
Posted in Not So Fast! on 22 July 2009
Stats: 26 views and 7 Comments [caption id="attachment_7910" align="alignright" width="150" caption="Paul Krugman's Chart Explaining How Deficits "Saved the World""][/caption] Last week, I wrote about the crudeness of so-called Keynesian economic theory in which one assumes that all assets and capital “investment” are “homogeneous” in character, which means that their only contribution to the economy is from the ...
Posted in Not So Fast! on 22 July 2009
Stats: 26 views and 7 Comments [caption id="attachment_7910" align="alignright" width="150" caption="Paul Krugman's Chart Explaining How Deficits "Saved the World""][/caption] Last week, I wrote about the crudeness of so-called Keynesian economic theory in which one assumes that all assets and capital “investment” are “homogeneous” in character, which means that their only contribution to the economy is from the ...
The Real Cost of Health Care
Posted in Not So Fast! on 24 June 2009
Stats: 354 views and 4 Comments One regular theme in Paul Krugman’s column is universal medical care, and anyone who opposes him either is evil or simply wants people to be unhealthy. While he is not fully happy with President Barack Obama’s latest plan to create a government health insurance option, nonetheless he knows all central ...
Posted in Not So Fast! on 24 June 2009
Stats: 354 views and 4 Comments One regular theme in Paul Krugman’s column is universal medical care, and anyone who opposes him either is evil or simply wants people to be unhealthy. While he is not fully happy with President Barack Obama’s latest plan to create a government health insurance option, nonetheless he knows all central ...
