Monday, 16 October 2017

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Ignoble Nobel: Krugman explicitly advocating inflation

Posted by
August 12, 2011
in Blog

Today in the New York Times Paul Krugman calls for “an all-out effort by the Federal Reserve to get the economy moving, with the deliberate goal of generating higher inflation to help alleviate debt problems.”   The destruction of the US monetary order is too slow for him.   Thanks to scholars who many decades ago preached the same nonsense, Argentina, my native country, went from being an economic miracle, to an economic basket case.  Its increased poverty, high levels of corruption, weak rule of law, and a political system dominated by fascists (corporativists) from the left or from the right might be a good example for Krugman but not for me.