3 votes

Reddit: Ask Paul Krugman a Question. May 1st, 4:45 ET

On May 1st at 4:45 ET, We'll all have a chance to ask Keynesian economist Paul Krugman questions on Reddit.

Keep your eye open on the page below:

Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Krugman Economic History Lies

I can't be there since it's taking place at 4 am in my time zone, but somebody should ask him about the material here: http://www.youtube.com/watch?v=yLynuQebyUM

Using statistics Selgin proves that the Fed's record has been awful, even by its own standards and using official statistics. Somebody has to call him out on his lie about the economy being more volatile before the Fed. It's simply not true. The "long depression" of the late 19th century, for example, was proven to be a statistical phenomenon with no basis in reality (today's economists are so biased towards the idea that deflation=depression that wherever they see deflation they assume there must have been a depression even if the economy was booming and living standards were soaring, as they were in the late 19th century). The 19th century booms and busts are shorter and less severe and in any case all traceable to Government debasement of the currency like when Lincoln temporarily suspended the gold standard during the war.

The two longest, most severe depressions have taken place on their watch. Even if we accept Krugman's argument that the Great Depression was free markets run amok (which I don't, of course), It's just a flat out lie that depressions were longer and more severe before the Fed. Somebody needs to call out Krugman on his bad history.

A fitting day for a

A fitting day for a communist.

...and an

Illumnist. The Illuminati was founded on 5/1/1776

When a true genius appears in the world, you may know him by this sign: that the dunces are all in confederacy against him. ~J. Swift