Paul Krugman attacked Ron Paul, Paul Ryan, and “Honest Money” and also took a shot at Austrian economists on his blog today. He called honest money a “Ron Paul dog whistle” and then went on to query Austrian economists on their position on Money Market Mutual Funds (MMMF). He doesn’t expect a serious answer.
[This essay was originally published as “Die Legende von Versagen des Kapitalismus” in Der Internationale Kapitalismus und die Krise, Festschrift für Julius Wolf (1932)1
To review Thomas Nagel’s new book for the Mises Daily seems at first sight a misplaced endeavor. The book has nothing to say about libertarianism or Austrian economics; moreover, Nagel’s own political views are decidedly non-libertarian.
The US central bank announced on Thursday, September 13, 2012, that it will expand its holdings of long-term securities with open-ended purchases of $40 billion of mortgage debt a month as it seeks to boost economic growth and reduce unemployment.
“English should be the official language of this country” has become something of a mantra for the Republican Party, uttered to raucous cheers in nearly every Republican debate or speech. Moreover, today several organizations exist to lobby for English as the official language, including U.S. English, ProEnglish, and English First.
“The theory of ‘built-in’ obsolescence is fallacious. And, with the advent of the ecology movement and the neo-Malthusian Zero Population Growth adherents, it is more important than ever to lay the fallacy to rest. According to the overpopulationists, we have or are soon going to have too many people in relation to the earth’s resources. In the view of the environmentalists, we are presently wasting the resources we have. Built-in obsolescence is a tragic, totally unnecessary component of this waste.”
Bernanke says that the new announced round of money printing ( QE3 plus more Twist)) is intended to reduce unemployment. Does he believe that? It is possible that Bernanke really drinks his own Cool Aid, but I doubt it. Does he think that stock market gains will boost confidence and somehow help employment indirectly? Perhaps. He has in the past claimed credit for spiking the stock market, although he must know that the empirical evidence does not show a link to employment gains.
In a conversations in the comments of another post on September 7, I said:
