Friday, January 11, 2013

Hans-Hermann Hoppe On How To Blow Away Paul Krugman



(ht Travis Holte)

7 comments:

  1. To the question "how come there is still poverty in the world if we can just print money", Krugman would most likely reply "because printing money only works until full employment is reached".

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  2. I have three of his books. I need to actually read all of them. Good post.

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  3. I love it when you call me big Hoppe.

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  4. Arthur Krolman, CFAJanuary 11, 2013 at 12:34 PM

    You are mistaken Prof. Hoppe. Central banks indeed do make society richer. High society.

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    Replies
    1. LOL

      ", CFA"

      Who does that?

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  5. Krugman's answer like it or not will surely depend on wealth transfers, i.e. the transfer of wealth from the top 1% to those deemed needy by our well meaning political process. Rhetorically he can say if we take a billion from someone who has multiple billions and we spread it around to those less fortunate we are improving society. To some extent doing this with fiat currency achieves this for Krugman.

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  6. I think Krugman would liken money printing to priming an engine to get the economic machine started. He has recently warned of the dangers of inflation down the road so I assume he is aware of Zimbabwe and Germany hyperinflations. He probably thinks they overdid it...hopefully. If you only print enough to initiate enough sufficient economic activity then you can back off. How much is enough??....I guess you've got to ask Krugman.

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