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Krugman Admits Keynesian “Economics” Is About Empowering the State

Posted By admin On August 18, 2013 @ 3:46 am In Money Watch,Tile | Comments Disabled

William L. Anderson
LewRockwell.com [1]
August 18, 2013

In a recent screed posing as a blog post, Paul Krugman lets the cat out of the bag [2]: the essence of Keynesian “economics” is giving the Political Classes more power. He writes:

…the hatred for Keynesian economics has less, I think, to do with the notion that unemployment isn’t a proper subject of policy than about the notion of shifting power over the economy’s destiny away from big business and toward elected officials. (emphasis mine)

In other words, an economy really should be the plaything of the Political Classes, as though they had the brilliance and expertise to make things any better. Furthermore, whenever libertarians speak of things like market processes, people like Krugman throw in the term “big business,” which supposedly means that the two are the same. So, either Krugman is ignorant about what we mean by markets, a price system, and entrepreneurship, or he is patently dishonest. Or both.

I should add that earlier in his post, he smeared Ron Paul and Rand Paul by calling them a “white supremecists.” Yep, another typical day at the office for Paul Krugman.


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URL to article: http://www.prisonplanet.com/krugman-admits-keynesian-economics-is-about-empowering-the-state.html

URLs in this post:

[1] LewRockwell.com: http://www.lewrockwell.com/lrc-blog/krugman-admits-keynesian-economics-is-about-empowering-the-state/

[2] blog post, Paul Krugman lets the cat out of the bag: http://krugman.blogs.nytimes.com/2013/08/17/conservatives-are-mostly-not-libertarians/

[3] Get Ready To Taste The Bitter Side Of Keynesian Economics: http://www.prisonplanet.com/get-ready-to-taste-the-bitter-side-of-keynesian-economics.html

[4] Jim Rogers: Paul Krugman is an Idiot: http://www.prisonplanet.com/jim-rogers-paul-krugman-is-an-idiot.html

[5] A (Hopefully Fake) Paul Krugman Laments The Lack Of Death And Destruction Following Today’s Earthquake: http://www.prisonplanet.com/a-hopefully-fake-paul-krugman-laments-the-lack-of-death-and-destruction-following-todays-earthquake.html

[6] Paul Krugman’s Welfare-State Fallacies: http://www.prisonplanet.com/paul-krugmans-welfare-state-fallacies.html

[7] Second Stimulus Needed to Avoid Lost Decade: Krugman: http://www.prisonplanet.com/second-stimulus-needed-to-avoid-lost-decade-krugman.html

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