Wednesday, March 4, 2015

Poor Krugman

Darius Adler emails:
Krugman writes: "...amateur historians who think they know exactly what happened when Diocletian ruled Rome..."

Poor Krugman, one little debate with Ron Paul scarred his ego so much.

Some good source material about what was going in the Roman empire regarding currency debasement and inflation.

"Dionysius to Apion, greeting. The divine Fortune of our masters has ordained that the Italian coinage be reduced to the half of a nummus. Make haste, therefore, to spend all the Italian silver that you have in purchases, on my behalf, of goods of every description at whatever prices you find them. For this purpose I have dispatched an officialis to you. But take notice that should you intend to indulge in any malpractices I shall not allows you to do so. I pray, my brother, that you may long be in health. (Verso) I received the letter from the officials on the eight of the month Pharmouthi."

Spend that currency before its value sinks, once again proving how gov. officials, elites and the well connected benefit from inflation.

1 comment:

  1. If poor little krugman actually had balls?
    This kick would have been particularly painful...