tag:blogger.com,1999:blog-3758330678390419129.post2807373497986638048..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Paul Krugman Makes Some SenseRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-3758330678390419129.post-11966570508110697752011-08-24T10:57:43.121-04:002011-08-24T10:57:43.121-04:00I know several Austrian economists that are "...I know several Austrian economists that are "rich".<br /><br />Hell, I've done very well, in dollars, based on Austrian economics.Texas Chrisnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-40558704647413965692011-08-24T06:44:18.778-04:002011-08-24T06:44:18.778-04:00if economists really had any clue about economy, t...if economists really had any clue about economy, they would all be rich.Liberistahttps://www.blogger.com/profile/11658623158127073573noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-48422245305031752642011-08-23T19:44:11.523-04:002011-08-23T19:44:11.523-04:00@Anon 5:24
That's the magic of Keynesianism. ...@Anon 5:24<br /><br />That's the magic of Keynesianism. What's idiotic for an individual, like spending oneself into bankruptcy, becomes genius when done for you and millions of people like you. It's sort of like killing one person is murder, but killing hundreds of thousands of people is "policy." The former is evil and will get you life in prison, or execution. The Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-24232707751431665482011-08-23T18:41:11.962-04:002011-08-23T18:41:11.962-04:00Well whadya know 'bout that!Well whadya know 'bout that!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-27528104637323118042011-08-23T18:31:22.396-04:002011-08-23T18:31:22.396-04:00That's what I say to the people who think Romn...That's what I say to the people who think Romney or Cain would make good presidents because they ran businesses. Knowing how to run a business does not make one an economist. Furthermore, a president is not supposed to "run" the country. He should, like Grover Cleveland, put the kabosh on other people's bad ideas with his veto pen. The requisite qualities ought to be wisdom, Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-6399746518169361412011-08-23T18:22:10.579-04:002011-08-23T18:22:10.579-04:00Just try to find a business man who can give a dec...Just try to find a business man who can give a decent explanation of fractional reserve banking. Ask him what is the economic impact of minimum wage, government tariffs, government subsidies, and tax deductions on mortgage interest. The average business man has no clue about these things. Neither does the average voter, or Paul Krugman for that matter. It's a broken system.Deftnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-56637018220210866692011-08-23T18:14:43.081-04:002011-08-23T18:14:43.081-04:00Most of these people are MBAs and are really just ...Most of these people are MBAs and are really just memorizing automatons. They memorize methods of failed MBAs in Universities. They really don't know how to integrate physical reality and float around like fish out of water sometimes getting lucky at business.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-79972168459212868222011-08-23T17:24:55.176-04:002011-08-23T17:24:55.176-04:00Surely, you can't be serious. While it is tru...Surely, you can't be serious. While it is true that successful businessmen can have decidedly bad ideas about policy, and that Buffet is exhibit #1 in that regard, an economist who draws a distinction between "expanding a whole economy" and "expanding individual businesses" reveals only the intellectual bankruptcy of his profession and his own delusional detachment from Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-28371652974065459982011-08-23T16:55:07.741-04:002011-08-23T16:55:07.741-04:00Let's start a betting pool: how long will it t...Let's start a betting pool: how long will it takes this commie to out himself as such?Taylor Conanthttps://www.blogger.com/profile/18270678440957992085noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-74829798250054779522011-08-23T16:48:16.386-04:002011-08-23T16:48:16.386-04:00And the irony is that Paul Krugman has adopted the...And the irony is that Paul Krugman has adopted the typical businessman's explanation for why business is bad (not enough demand for his products) and then, through the fallacy of composition, transposed that belief onto the macroeconomy as a whole, such that he believes the economy as a whole requires an external entity that prints and spends money to ensure that everything produced in the Major_Freedomnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-77891648932265894302011-08-23T16:04:04.182-04:002011-08-23T16:04:04.182-04:00I would apply that last sentence just as equally t...I would apply that last sentence just as equally to Krugman as I would the captains of industry.Brianhttps://www.blogger.com/profile/16014392702556826275noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-81962604818963749422011-08-23T15:34:01.954-04:002011-08-23T15:34:01.954-04:00His last line could describe 95% of all economists...His last line could describe 95% of all economists alive today. What is also clear and not understood by Krugman is that most economists that have spent a life time in academia, like himself, have no clue how a business works or what motivates them to make the decisions they do. Remember this is a guy that supports a theory that all workers are interchangeable. Maybe Obama is on to something Anonymousnoreply@blogger.com