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Posted By Don Boudreaux On January 12, 2012 @ 10:23 am In Budget Issues,Civil Society,Competition,Creative destruction,Debt and Deficits,Monetary Policy,Myths and Fallacies,Sports,The Economy,Trade,Video,Work | Comments Disabled
Steve Landsburg takes Paul Krugman to task for committing what should be regarded as the cardinal sin of any economis t : fueling commonplace misperceptions about the way economies work. The world is amply stocked, even without Nobel laureate economists joining them, with people who mistakenly believe that the chief problem that economies must solve is finding work for people. But what people want above all (at least from the economy) is not work per se, but consumption goods – a large and growing selection of ample consumption goods. Jobs are only a means to that end. And ample and growing supplies of consumption goods are impossible without creative destruction and efforts to produce, whenever possible, more efficiently. Labor-saving technologies and modes of production enhance wealth; without such things we’d still all be living, dirt poor, on farms.
Here’s a video on Judy Shelton talking about her newest book, Fixing the Dollar Now . (HT Leonard Liggio)
Finally, Johns Hopkins economist Steve Hanke points us to research on some consequences of private-equity firms  (such as Bain Capital).
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 Mark Perry points us to yet further evidence that the basic laws of economics are not optional – not even if wizards sitting in legislatures try to suspend those laws: http://mjperry.blogspot.com/2012/01/so-demand-curves-really-do-slope.html
 George Will tells the inspiring story of the 1955 Cannon Street All Stars: http://www.washingtonpost.com/opinions/cannon-street-all-stars-reminding-america-how-far-weve-come/2012/01/10/gIQA6rlwrP_story.html
 Steve Landsburg takes Paul Krugman to task for committing what should be regarded as the cardinal sin of any economis: http://www.thebigquestions.com/2012/01/11/off-the-deep-end/#more-6943
 t: http://www.thebigquestions.com/2012/01/11/off-the-deep-end/#more-6943http://www.thebigquestions.com/2012/01/11/off-the-deep-end/#more-6943
 I devote my current Pittsburgh Tribune-Review column to the issue of the burden of government debt: http://www.pittsburghlive.com/x/pittsburghtrib/opinion/columnists/boudreaux/s_775944.html
 For Laney N., who flatters me with her e-mail asking me to post a link again to this July 2007 blog-post entitled “‘Faith’ in Free Trade?: http://cafehayek.com/2007/07/faith-in-free-t.html
 Here’s a video on Judy Shelton talking about her newest book, Fixing the Dollar Now: http://www.youtube.com/watch?v=DSdM1Mlc6zs
 Cato’s Dan Ikenson asks if America needs more Boeings or more Facebooks: http://www.cato-at-liberty.org/does-the-u-s-economy-need-more-boeings-or-more-facebooks/
 Johns Hopkins economist Steve Hanke points us to research on some consequences of private-equity firms: http://www.cato-at-liberty.org/private-equity-a-capitalist-bane/
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