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View Full Version : End This Depression Now!, by Paul Krugman (Norton, 272 pp., $24.95)



Peter1469
06-25-2012, 06:52 PM
http://www.city-journal.org/2012/bc0624gs.html

Here is a book review of Paul Krugman's recent book.


It explains some economic concepts and is a good read.

Shoot the Goose
06-25-2012, 07:15 PM
I just wonder who is going to buy this shit. Krugman is a whack-job whose only goal seems to be able to keep showing up on ABC on Sunday mornings once a month. And I assume he writes columns to be printed by fecal-wipe such as the NYT.

The article was a well-informed rebuttal of Krugman though ..... worth the read. :)

Goldie Locks
06-25-2012, 07:19 PM
I know...how about we CUT THE DAMN SPENDING!!!

Goldie Locks
06-25-2012, 07:20 PM
I just wonder who is going to buy this shit. Krugman is a whack-job whose only goal seems to be able to keep showing up on ABC on Sunday mornings once a month. And I assume he writes columns to be printed by fecal-wipe such as the NYT.

The article was a well-informed rebuttal of Krugman though ..... worth the read. :)


The reason he doesn't mention the other economists is because they're dead and he doesn't want anyone to remember them...;)

Chris
06-25-2012, 07:28 PM
From the link:
Krugman is witty, attacking “austerian” arguments for government austerity. Mario Rizzo and others have presented the “Austrian” or Hayekian reply to the Keynesian deficit spending case made by Krugman and Brad DeLong, for instance.


http://www.youtube.com/watch?feature=player_embedded&v=vQu7V9pMK48


But the critics of austerity have got it all wrong, says Mercatus Center economist and Reason columnist Veronique de Rugy. For starters, many European countries haven't cut spending at all and, among the ones that have, most have made relatively minor trims while also hiking taxes. That's known as "the balanced approach," notes de Rugy, and it almost never works to reduce debt-to-GDP ratios or get economies moving again. Yet critics of cutting government spending in a weak economy ignore academic research showing that significant spending cuts, structural reforms to entitlements, and loosening labor regulations are proven ways to reduce debt loads and get countries moving again.

From Is Austerity to Blame for Europe's Economic Woes? (http://reason.com/blog/2012/06/24/is-austerity-to-blame-for-europes-econom)

In short, there was no auterity plan implemented. Krugman's making it up.

Peter1469
06-25-2012, 09:31 PM
From the link:


http://www.youtube.com/watch?feature=player_embedded&v=vQu7V9pMK48



From Is Austerity to Blame for Europe's Economic Woes? (http://reason.com/blog/2012/06/24/is-austerity-to-blame-for-europes-econom)

In short, there was no auterity plan implemented. Krugman's making it up.

Krugman's idea of austerity is based on base line budgeting. European states are spending less that projected, but still more than last year.

Chris
06-25-2012, 10:23 PM
Right, but they are doing that while raising taxes. There's no austerity there.

Krugman's been spouting this for sometime and any number of economists have challenged him to show some data. He can't.

Spending less than projected but more sounds like our Congress. No one's talking budget cuts.

Goldie Locks
06-25-2012, 10:34 PM
Right, but they are doing that while raising taxes. There's no austerity there.

Krugman's been spouting this for sometime and any number of economists have challenged him to show some data. He can't.

Spending less than projected but more sounds like our Congress. No one's talking budget cuts.


Budget cuts in Washington means spending less than the projected increase.

Chris
06-25-2012, 10:44 PM
Budget cuts in Washington means spending than the projected increase.

Right, cuts in rates of spending increases.

Peter1469
06-26-2012, 04:36 PM
http://www.realclearpolitics.com/articles/2012/06/26/krugman__todays_policies_this_is_nothing_like_1937 .html



Here is an article that counters some of Krugman's recent points. Specifically that we are closer to 1931 than 1937- this article demonstrates that neither is true.