Kling on Krugman on Debt
Posted By Don Boudreaux On November 20, 2012 @ 5:52 pm In Debt and Deficits,Other People's Money,Reality Is Not Optional | Comments Disabled
Without mentioning Jim Buchanan, Arnold Kling succinctly captures and reveals the essence of Jim’s powerful case against the Keynesian/Krugmanian assertion that internally held government debt is no real burden on citizens [1]. (HT James Pethokoukis)
Unwise aggregation is always blinding, and never more so than on the question of the burden of government debt.
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[1] Without mentioning Jim Buchanan, Arnold Kling succinctly captures and reveals the essence of Jim’s powerful case against the Keynesian/Krugmanian assertion that internally held government debt is no real burden on citizens: http://www.american.com/archive/2012/november/lenders-and-spenders-confronting-the-political-reality-of-debt
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