Skip to comments.Liberal Paul Krugman: A Massive, Destructive Earthquake would be Great for the Economy
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 ...
Like FDR and WWII, huh KrugmanIdiot?
Someone seriously needs to strip you of your Nobel Idiot Prize. =.=
The frightening part is that Krugman’s textbook is used by many college and high-school AP economics courses. Students are actually being taught the idiocy that Krugman spouts.
I saw a comment on some blog which stated, if Krugman wants to stimulate the economy, he should leave his car’s sunroof open when Irene hits.
Give Krugman him a Nobel Prize!
Give Krugman a Nobel Prize!
What a devil
Did this man get his doctorate from ICS?
Does he not know that all disasters do is divert resources fom their original intentions and does not generate new economic growth?
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.
To which, Krugman would reply that it is just as good for the child to steal the shoes or the book as it was to break the window; in other words, Krugman is a moron... a dangerous, self-aggrandizing, and psychotic moron.
He is certifiably insane!
The problem with the U.S. economy is threefold:
First, government spending is WAY out of control. Too much GDP is going to China in interest alone.
Second, energy costs...fuel costs, are way too high. Gasoline has doubled since 2008. Electricity, heating and transportation have followed suit. Everything costs more as if inflation hit us big time. So, most wage earners have stopped spending on anything but essentials. Low demand... less production...less employment...and the spiral down continues.
Third, China is killing us with its unfair trade practices. It manipulates it’s currency and also lives with a huge trade inbalance. U.S. trade deficit with China is huge and getting bigger. We can’t compete with an economy based on $5 a day wages.
Want to get us back to top dog? Stop government spending and drop all new regs for energy production that are restricting in nature. Start drilling; start building new nukes; open up natural gas drilling and work on coal. Just the direct order from Washington would drop the prices on energy and open up the economy.
It’s also time to do something about China. The trade deficit is terrible.
A Krugman suicide by jumping off the NYTimes building would be good for the local spatula and mortuary economy. If he hit Sulzberger on the way down it would twice as beneficial. And if the whole NYTimes building burnt down to the ground with everyone inside, why, that would cause a virtual mini-boom in the local economy!
I tried clicking through to the google site and its not longer there. Im not sure this is real.
Please, someone zap Paul’s “Mysterians” video tape. He’s living in a dream world of burrowing aliens and their mole robot. (But then again, he does make for some comedic relief...)
Those loony Leftists just love to worship at the altar of death and destruction.
I was still in high school when I read Frederic Bastiat's essay on glass makers and it inspired me to eventually go into economics as a profession.
There are two authors I would most recommend to anyone who wants to understand basic economics: Frederic Bastiat and Dr. Thomas Sowell. I'm willing to bet Krugman has never read either.
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.
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.
OK, OK, I'm putting my dunce cap on.
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