The fact that such a vacuous and irrelevant example became such a compelling argument for the government restriction of freedom of speech in many other areas is disturbing.
Central banks always and everywhere weaken economic growth by undermining the propensity to save; they are destabilizing the economy by fueling a debt economy.
Further, if solidarity is a value, why can’t the common enterprise be that people in a society share a commitment to the free market? Or is solidarity only good when people jointly do things socialists like?
The velocity of money does not have a life of its own. It is not an independent variable and it cannot cause anything, let alone offset the effect of increases in money supply on the prices of goods.
The relative strength and reaction times of changes in rates depend on the subjective expectations of the public. These changes—like economic changes in general—cannot be forecast with certainty.
Policy normalization—defined as closing down the nonconventional toolbox and restoring a well-functioning price-signaling mechanism to the bond market—is difficult but possible.
Neo-Spoonerism: there is no treason against the federal government, because the federal government does not abide by the document which it claims as its foundational authority to govern.
Thanks to capital accumulation and other innovations in the West, life expectancy grew beyond anything previously imagined. The benefits spread from there.
One cannot declare the scientific method simultaneously to be both valid and invalid, yet, this is what Krugman is doing.
If people decide to save rather than spend, this could lead to a fall in GDP, even though people are becoming better off beyond the short term.
