Good News! It's Krugman Monday!

Mott the Hoople said:
No it didn't. The stagflation of the 1970's was a direct result of the 1970's oil shocks (arab oil embargo and OPEC raising prices) which severly impacted commodities markets, particularly energy causing and inflationary spiral and by Nixons idiotic wage and price controls. Nixon may have talked like a Keynesian but he sure didin't walk the talk.
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LMAO... The above is simply nonsense. Stagflation came because of failed monetary and fiscal policies... especially under Carter. Add in the over regulation of industries and the vain attempt to control prices (by both Nixon and Carter) and you had a recipe for disaster... and disaster is what we got.
 
Mott the Hoople said:
Cause no one is saying that. Keynesians economic theory believes that deficit spedning is appropriate during severe recession or depression, not at all times for as much as you want with no concerns for the affects. That's a classical strawman argument.
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Yet, here we have positive economic growth (albeit anemic growth) and every single year we have the drum beat for more deficit spending from Krugman and the other 'warped Keynesians'
 
Superfreak said:
Yet, here we have positive economic growth (albeit anemic growth) and every single year we have the drum beat for more deficit spending from Krugman and the other 'warped Keynesians'
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Maybe you hadn't noticed the unemployment problem, but we have one. Really.
 
austerity has never worked in practice like you claim it will.

You have been proven wrong so many times you have NO credibility left super duper
 
evince said:
austerity has never worked in practice like you claim it will.

You have been proven wrong so many times you have NO credibility left super duper
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You are an idiot Desh. You have no clue what you are talking about. Go play in traffic while the adults discuss.
 
Darla said:
You shouldn't talk to people this way.
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I rarely wish for bad things to happen to people, but SF really really tries hard to make it on my list. And it's not that I want something bad to happen to him, but that I think he'd benefit from a dose of perspective.
 
Mott the Hoople said:
Cause no one is saying that. Keynesians economic theory believes that deficit spedning is appropriate during severe recession or depression, not at all times for as much as you want with no concerns for the affects. That's a classical strawman argument.
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Dude, my response was to Desh's comment about austerity. Are you arguing austerity and keynesian economics are the same thing? If not your attempt at calling a strawman is a fail.
 
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