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Multiple Comments
Following up on yesterday’s Keynesian Cross post: The point, for those who missed it, is that using exactly the same reasoning that we find in Eco 101 textbooks to derive the Keynesian multiplier, we...
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The Road Not Taken
Paul Krugman, having apparently received another of his divine revelations, proclaims that if we demand (somewhat) better working conditions in Third World countries (backed up, presumably, with...
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Six Observations
Do correct me if I’ve got any of the history wrong here: 1. It seems pretty likely that a big part of the reason why Amazon’s website works so well and Obamacare’s website works so poorly is that...
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Minimum Insight
Paul Krugman argues that: Hiking the minimum wage has little or no adverse effect on employment and therefore A minimum-wage increase would help low-paid workers, with few adverse side effects . In...
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Style Versus Content
Paul Krugman pauses to wonder why he’s been characterized as immoderate when — according to him — “there’s not a lot of air between my views and those of, say, staff economists at the Fed.” His...
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Homer Nods
Well, nobody’s perfect. When it comes to skewering bad reasoning — and making the right arguments crystal clear — Don Boudreaux is usually about as close to perfect as anyone gets. But this time I...
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Krugman Versus Keynes
Remember Paul Krugman? You know, the guy who thinks we’re so deep in a liquidity trap that pretty much all spending is good spending, even if it’s socially wasteful? Well, here’s something odd. That...
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Tipping the Scales
Former economist Paul Krugman has actually managed to get these words past an editor at the New York Times: There is, however, one big difference between corporate persons and the likes of you and me:...
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Letters and Numbers
Four years ago, roughly two dozen economists and financial theorists signed an open letter to Ben Bernanke urging him to back off the policy of quantitative easing, citing, among other things, the risk...
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Borderline Disorder
Here’s one difference between me and Paul Krugman: He enthusiastically supports President Obama’s new immigration policy, which he calls a matter of human decency. I grudgingly support President...
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Minimum Logic
The question is often raised: “Why would you ever want to raise the minimum wage when you could raise the earned income tax credit instead?”. In other words, if you’ve got a choice between two ways to...
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Minimum Logic, Part 2
Yesterday’s post touched on several related points, and I’m afraid the most important one got buried near the end, so I want to repeat it: 1) In the presence of an effective minimum wage, all benefits...
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Krugman — So Right and So Wrong
Paul Krugman offers a nice thought experiment to illustrate why government debt, in and of itself, does not make the country as a whole any poorer: Suppose that … President Santorum passes a...
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Paul Krugman Hopes You’re Stupid
Paul Krugman, apparently relying on the stupidity of his readers, opens with this quote: “At some point, Washington has to deal with its spending problem,” Speaker John A. Boehner of Ohio said...
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Thoughts on the Minimum Wage
The usual case against the minimum wage has three components: Minimum wages reduce employment among unskilled workers. Therefore minimum wages are bad for unskilled workers. Therefore minimum wages are...
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But Foolish *In*consistency Can Also Be Problematic…
Paul Krugman is at it again, bemoaning the mendacity of politicians who, for “careerist reasons”, will never admit their mistakes and therefore lock themselves into bad policies. He even quotes Ralph...
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Deficit Attention Disorder
Imagine you’ve got a drinking problem. And imagine this conversation with your spouse: Spouse: Dear, you’ve really got to do something about your drinking. You’ve been in three auto accidents this...
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To Hold You Over….
Sorry to have been so silent this week; various deadlines have kept me away from this corner of the Internet. I’ll be back in force next week for sure. Meanwhile, if you’re looking for some good...
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Lies and Lying Liars
When a politician misleads the public with distorted or flat-out fictional data, or uses eight minutes of national TV time to smear the character of the careful scholar who dared to report an...
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The Story Darkens
It turns out that last week’s tag-team smear of a young Heritage Foundation economist, executed by Senator Sheldon Whitehouse of Rhode Island and his lackey Paul Krugman of the New York Times, was...
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