Came across this picture today. To bad it doesn't have something about hurricanes or terrorist attacks stimulating the economy.
"Government is not the solution to our problem; government is the problem."
Ronald Reagan, 1981
bump
LOL...that pretty much sums up Krugman...
The last 2 ruined it. However the others are spot on. I don't really consider le Krug an economist. A true economist attempts to study and explain how scarce resources are, can, or should be allocated in a society. He's not even a good Keynesian, though when you do isolate him to very specific micro economic situations and problems he can be spot on usually.
E che sospiri la libertà!
No concept of opportunity cost
The Broken Window Fallacy that socialist-economics fails to gasp
Here's the whole book in PDF format, it's a great read from beginners to advanced students of the market, written simple English & pretty short too - http://www.hacer.org/pdf/Hazlitt00.pdf
Last edited by Paul Or Nothing II; 04-16-2012 at 12:23 PM.
There is enormous inertia — a tyranny of the status quo — in private and especially governmental arrangements. Only a crisis — actual or perceived — produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around. That, I believe, is our basic function: to develop alternatives to existing policies, to keep them alive and available until the politically impossible becomes politically inevitable
- Milton Friedman
Fake alien invasion plans, in my country? It's more likely than you think.
These guys are the true crackpots.Originally Posted by Krugman
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