Death Avoidance and the New York Times
New York Times columnist Paul Krugman has not forgotten. The Nobel Prize winning economist wrote an editorial on October 22, 2020 titled How Many Americans Will Ayn Rand Kill? The article then describes the attributes of personal liberty in terms that no American, especially Ayn Rand or any advocate of rational egoism, would recognize.
While Duranty’s Pulitzer was his reward for protecting Soviet-style economic central planning, Krugman’s Nobel was his reward for protecting Keynesian-style economic protectionism for young industries in developing countries. Of course, his New Trade Theory was supported by complex and technical economic modeling that was easily debunked.
While Duranty’s Pulitzer was his reward for protecting Soviet-style economic central planning, Krugman’s Nobel was his reward for protecting Keynesian-style economic protectionism for young industries in developing countries. Of course, his New Trade Theory was supported by complex and technical economic modeling that was easily debunked.
The big chief on a small planet has announced a new golden age of prosperity.
It starts with gold growing on plants, farmers benefit greatly from this, they close down farms and move to cities to live in luxury on their gold wealth. When diamonds and other precious stones drop as rain, everyone has to buy umbrellas but benefit greatly with the new wealth. How does it end? I don't know, only mid-way in the story.
Anyway this is just quantitative easing, a side show of Keynsianism as promulgated by Krugman and university econ depts and practiced by central banks. There is no need for technology to find a way to produce limitless gold, just print money,
Quantitative easing is even easier than printing, better than helicopter drops of money. So we have easy ways to produce money, but technology has not yet (and do not hold your breath) found cheap and easy ways, even with majority votes, to produce goods and services.
On second thoughts, try this- repeal the compulsory claptrap interfering with trade, saving, capital formation, and liberty in general.
mshupe thanks for that Krugman ref, tho' I will not be reading it,
but I would read a proper demolishing commentary.