The Mises Community
An online community for fans of Austrian economics and libertarianism, featuring forums, user blogs, and more.
Forums
 »
Economics
 »
Economics Questions
 »
How do the Austrians propose dealing with money market funds? - Paul Krugman

Thank you for your participation and interest in the Mises Community. This software platform has seen its day, however, and so is now closed. We are redoing our entire site, so look for some exciting developments by the end of the year. Thank you for your support of Austrian economics, liberty, and peace.

How do the Austrians propose dealing with money market funds? - Paul Krugman

rated by 0 users
Not Answered This post has 0 verified answers | 7 Replies | 2 Followers

Not Ranked
19 Posts
Points 395
SortOfAmish posted on Sun, Sep 16 2012 8:58 PM

http://krugman.blogs.nytimes.com/2012/09/16/ron-paul-on-money-market-funds/

"How do the Austrians propose dealing with money market funds?

I mean, it has always been a peculiarity of that school of thought that it praises markets and opposes government intervention — but that at the same time it demands that the government step in to prevent the free market from providing a certain kind of financial service. As I understand it, the intellectual trick here is to convince oneself that fractional reserve banking, in which banks don’t keep 100 percent of deposits in a vault, is somehow an artificial creation of the government. This is historically wrong, but maybe the actual history of banking is deep enough in the past for that wrongness to get missed." - Paul Krugman

OK, I don’t expect a serious answer. But it’s scary that this has become the more or less official doctrine of the GOP.

Give him a serious answer. I imagine these articles might have the answer.

https://mises.org/journals/qjae/pdf/qjae3_4_2.pdf

http://mises.org/journals/qjae/pdf/qjae3_4_3.pdf

 
  • | Post Points: 35

All Replies

Top 10 Contributor
6,953 Posts
Points 118,135
Reply
John James replied on Sun, Sep 16 2012 10:17 PM

Keep an eye on krugman-in-wonderland.blogspot.com.  Bill will probably come through for you.  Either him or Murphy.

 

The Ultimate Beginner meta-thread
Learn the economics of freedom
  • | Post Points: 5
Top 75 Contributor
1,612 Posts
Points 29,515
Reply
Aristophanes replied on Sun, Sep 16 2012 11:00 PM

"The Fed does not make predictions. It makes forecasts..." - Mustang19
  • | Post Points: 35
Not Ranked
1 Posts
Points 5
Reply
dwangelo replied on Mon, Sep 17 2012 3:42 AM

Hi.  

I'm not sure, honestly, how Austrians propose dealing with money market funds - but I replied to Krugman using what I know about free markets.

http://dwangelo.tumblr.com/post/31721065802/krugman-on-qe-and-money-markets

I try to provide a rebuttal to most every Krugman blog post, most of which I think adequatly do the job.

Thanks.  Hope this helps.  Or, at the very least, hope it doesn't hurt.

-DA

  • | Post Points: 5
Top 10 Contributor
Male
4,984 Posts
Points 89,720
Reply
Wheylous replied on Mon, Sep 17 2012 8:19 AM

Graeber -.-

Can we get some more articles on him? He's gaining a lot of popularity.

  • | Post Points: 20
Not Ranked
62 Posts
Points 990
Reply
Vanitas Nomen replied on Mon, Sep 17 2012 11:55 AM

On Graeber, in the interview he says debt originated from money.
Sounds off considering you can do favors for friends or family and 'be in their debt' from a non-monetary point of view, and promise to 'repay' these favors by favors of your own.
If this is possible today, follows it might have been possible in 6000bc, however the terminology would have been, of course, different.
 

  • | Post Points: 20
Top 10 Contributor
Male
4,984 Posts
Points 89,720
Reply
Wheylous replied on Mon, Sep 17 2012 7:07 PM

 he says debt originated from money

Other way around?

  • | Post Points: 20
Not Ranked
62 Posts
Points 990
Reply
Vanitas Nomen replied on Mon, Sep 17 2012 7:16 PM

broken heart Yes, yes I juxtaposed those two. 

Need to set aside more time to preview what I write. No wonder as to why it "[sounded] off", but now that phrase took on another meaning crying. It's that slippery Max Keiser wearing off on me, eh?

  • | Post Points: 5
Page 1 of 1 (8 items) | RSS

Ludwig von Mises Institute | 518 West Magnolia Avenue | Auburn, Alabama 36832-4528

Phone: 334.321.2100 · Fax: 334.321.2119

contact@Mises.org | webmaster | AOL-IM MainMises

Mises.org sitemap