Tweet [1]
Fred Douglass details Paul Krugman’s battle with commentors at Krugman’s blog, The Conscience of a Liberal [2]. (HT Lyle Albaugh and Todd Cerami) By the way, when I read that Krugman admits to being unfamiliar with public-choice literature, I was reminded of a long-ago lunch that I had with a Cornell University economist. A fine economist, this Cornell don nevertheless – in response to a lunch-time remark of mine – rejected public-choice economics out-of-hand. “It’s just a rationale for conservatives to prevent government from doing what we all know government should do” was his reply. I was stunned.
Robert Barro on “stimulus [5].”
I join Steve Landsburg in not-fearing deflation [6] – as long as deflation is the result of increases in productivity [7]. (One small nit to pick with Milton Friedman’s work on the optimum quantity of money: it overlooks the vital point made by the late W.H. Hutt [8] in Hutt’s 1954 paper “The Yield from Money Held.” Leland Yeager assigned that paper years ago, and it remains one of the most eye-opening that I’ve ever read. Unfortunately, I can find no link to it.)