Economy

TheIronyLovesCompany

(5 posts)

25. Krugman on the job

Thu Jan 31, 2013, 06:31 PM

Jan 2013

Krugman's analysis is usually pretty good, including on this issue. My main point of contention is about the first causes--he tends to feel the liquidity crisis is what's holding us back, whereas I'd want to say that economic inequality is driving that liquidity imbalance, and that the economic power of concentrated wealth is the real first cause. If you have sufficient wealth, political change favoring your business investments, and allowing you and your property more influence, are quite possible.
Krugman's views on the debt vs. economic stimulus are very thoughtful also. I teach my economics classes out of Krugman's textbooks, which are slightly dense but quite right for a 200-300 level class. It's bizarrely lucky that the Times has given him such a forum. Especially since the Right hates him so vehemently.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

27 replies

= new reply since forum marked as read

Highlight:

Most of Our Debt Is Fake - Let's Abolish It [View all] eridani Jan 2013 OP

Sounds Too Good To Be True cantbeserious Jan 2013 #1

It isn't wrong Demeter Jan 2013 #7

As long as the fed met tbill obligations Warren Stupidity Jan 2013 #2

What it would have ment tama Jan 2013 #4

Just goes to show..... whistler162 Jan 2013 #3

Have a toke tama Jan 2013 #5

Considering Congress never intends to repay Social Security or other government accounts... liberal N proud Jan 2013 #6

Not only that, if we write off the combined intragovermental holdings and Federal Reserve debt... FleetwoodMac Jan 2013 #9

Sadly, "our" president dotymed Jan 2013 #14

I do understand where you're coming from. FleetwoodMac Jan 2013 #23

Most of our money is commercial bank-created through the process of loaning it out. tclambert Jan 2013 #8

The three stooges (remember those noted economists) did a routine that was exactly that. geckosfeet Jan 2013 #11

Vehemently endorsed? When? He mentioned it in his blog. geckosfeet Jan 2013 #10

Yeah, I caught that too... RevStPatrick Jan 2013 #13

The Tulip Spring Yo_Mama Jan 2013 #19

I think you are correct. But that is the nature of our economic system is it not? geckosfeet Jan 2013 #20

K&R. nt bemildred Jan 2013 #12

well, the great Jon Stewart thought the coin was a ridiculous idea and chastised Krugman about it NoMoreWarNow Jan 2013 #15

Money Loudestlib Jan 2013 #16

(American) Money has value because Lefty Thinker Jan 2013 #21

We are simply no longer represented, with zero accountability for what is now an oligarchy, and that mother earth Jan 2013 #17

Most of our debt is to working people, especially the Boomers Warpy Jan 2013 #18

It is a terrible mistake to confuse Lefty Thinker Jan 2013 #22

How crazy is it that we a private company INTEREST to make our money? yurbud Jan 2013 #24

Krugman on the job TheIronyLovesCompany Jan 2013 #25

Ask 1930's Germany or Zimbabwe right now,... TheMadMonk Jan 2013 #26

Yeah money isn't real. The secret is out. They can just print it. limpyhobbler Feb 2013 #27