Posted on 08/24/2011 5:27:39 AM PDT by therightliveswithus
I do not know if I have ever read anything so stupid, but what would you expect from Paul Krugman? From Google+:
If you aren't an idiot, this is a very clear case of the "Parable of the broken window." Here is the original text outlining the idea. Unfortunately, Mr. Krugman is apparently illiterate or simply a moron:
Suppose it cost six francs to repair the damage, and you say that the accident brings six francs to the glazier's tradethat it encourages that trade to the amount of six francsI grant it; I have not a word to say against it; you reason justly. The glazier comes, performs his task, receives his six francs, rubs his hands, and, in his heart, blesses the careless child. All this is that which is seen.
But if, on the other hand, you come to the conclusion, as is too often the case, that it is a good thing to break windows, that it causes money to circulate, and that the encouragement of industry in general will be the result of it, you will oblige me to call out, "Stop there! Your theory is confined to that which is seen; it takes no account of that which is not seen."
It is not seen that as our shopkeeper has spent six francs upon one thing, he cannot spend them upon another. It is not seen that if he had not had a window to replace, he would, perhaps, have replaced his old shoes, or added another book to his library. In short, he would have employed his six francs in some way, which this accident has prevented.
(Excerpt) Read more at punditpress.com ...
Well, someone needs to just remember the phrase, “be careful what you wish for, because seriously, quakes are possible in NYC, and whenever this possibility comes true, that’s going to be really ugly.
Paul Krugman, your padded cell is ready for you. Report to it now, nutcase.
Not to mention the shopkeeper having to lose business while his window (or the whole building if this guy had his way) is being repaired.
Try this one: NYT wackadoodle Paul Krugman wishes earthquake did more damage, or something
Krugman has a point. If the earthquake had knocked down a few Washington buildings like the NLRB, EPA, IRS, Department of Education, etc. it would be great for the economy.
yea as long as it happens somewhere where there are TONS of the presidents favorite race du jour. That changes depending on who he’s trying to get to vote for him.
that worked well in Haiti didn’t it?
From an economic standpoint, theft is much better than destruction.
Theft merely transfers the value of an economic good (say, six francs) from one person to another. Breakage destroys wealth, requiring that an additional six francs be used to replace the window. This reduces the total wealth of the world (or of France) by six francs.
It's not quite that simple, but almost.
Hurricanes and disasters are great for my personal economy, but that's due to my line of work.
Oh dear God... I thought this was a joke. How’s this theory working out for Japan?
If destruction is the recipe for economic growth (and it isn’t), then we should start dynamiting whole cities around the country and then watch the great economic miracles that take place. Hey, Detroit is almost totally destroyed. Why isn’t an economic boom taking place there?
From an economic standpoint, theft is much better than destruction.
Not for the former owner of the property. ;) I guess it’s fair to say that from a macroeconomic standpointtheft is much better than destruction. From a microeconomic perspective... not so much.
Well, Nobel Peace Price to Bambi for Libya.
Nobel Price are joke and its based on Liberal Politics.
If the Air Force flew daily bombing raids on all major US cities, the US would be immeasurably rich in just a few months.
It’s so obvious!
“A Massive, Destructive Earthquake would be Great for the Economy”
It would be, if buildings fell only on Democrat heads.
In the not-too-distant future, I think people will regard the Pulitzer Prize as the equivalent of a dunce cap.
Paul Krugman's Google account is fake. I know because I created it
OK, OK, I'm putting my dunce cap on.
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