its been criticised to death, its keynesianism; mises, hazzlit, reismann, rothbard, hoppe, murphy, what austrians havent criticised it?
Where there is no property there is no justice; a proposition as certain as any demonstration in Euclid
Fools! not to see that what they madly desire would be a calamity to them as no hands but their own could bring
You have to understand the Austrian theory of the business cycle. The crisis was caused by insufficient saving and overconsumption. Why would we try to promote more consumption and less saving?
Political Atheists Blog
axiomata:I've seen many blog entries or articles systematically break down Krugman's articles. and I was wondering if anyone is working on publishing a criticism of this one.
Someone might. You'll have to keep your eyes open for it. Most of the people in this forum are not the people who write these things.
It's a resource problem. People get paid to write statist BS. People who refute it have to do it on their own dime.
liberty student:It's a resource problem. People get paid to write statist BS. People who refute it have to do it on their own dime.
Who pays these people. THE MUNCHKINY STATE?
Schools are labour camps.
axiomata:I didn't write clearly what I was thinking in my head. I've seen many blog entries or articles systematically break down Krugman's articles. and I was wondering if anyone is working on publishing a criticism of this one.
Hopefully Bob Murphy will take on that task. He suggested he would: http://consultingbyrpm.com/blog/2009/04/mankiw-calls-for-inflation.html
Irish Liberty Forum
I like Mankiw, his macro textbook is relatively good for a mainstream economist.
"You don't need a weatherman to know which way the wind blows"
Bob Dylan
I had a mostly positive opinion of him as well before this article, which is why I wonder what convinced him to write this article. It's one thing to have this discussion with a grad student as a thought experiement, it is quite another to propose it in an editorial for the NYTimes.
it was probably due to him being keynesian that he wrote the article
Mankiw has been a good guy for the most part. He's always believed in activist monetary policy, which is probably why he supports the negative interest rate. The Taylor rule is demanding something like a -6% Fed Funds rate right now.
axiomata:http://www.nytimes.com/2009/04/19/business/economy/19view.html?_r=1&em I'm hoping some Austrian economists will offer some criticism of this editorial.
Peter Schiff steps up
http://www.lewrockwell.com/schiff/schiff18.html
liberty student: axiomata:http://www.nytimes.com/2009/04/19/business/economy/19view.html?_r=1&em I'm hoping some Austrian economists will offer some criticism of this editorial. Peter Schiff steps up http://www.lewrockwell.com/schiff/schiff18.html
Peter Schiff: "At best such a plan trades short-term gain for long-term pain"
I don't like it when he or any "Austrian' says that, because I don't even see the "short-term" gain. Maybe someone can enlighten me?
If anything, it's more of a political short-term gain only. People deceived further into believing that things are getting better cannot be a short-term gain. I think this is a short-term and a long-term disaster, period!
short term gain = people can consume and waste the last few savings that are present in the economy, before going belly up