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sounds like your more interested in the celebrity economists then economics itself no?

i do not follow any modern day economists except steve keen and micheal hudson how do you know what Krugman is if you've not studied him

no you're mis reading again temporarily advantage turns permanent advantage the Rockefeller would dump cheep oil on a region one by one the competition did not come back until it was broken up. Capitol would not risk going up against the Rockefeller's seemingly unlimited money. the...

exactly were did we go off topic aren't we talking about Freidman no regulations is the best. He is the brain behind the free markets in Africa and Latin america.

reread my post no Africa as mentioned above has a more liberal ( that means the markets are liberalized (free)) and has exactly no middle class. The market is open to the west we have been pillaging there nat res. for 100 years. Europe has the same value added tax on home grown goods so thats...

yes you are correct about the corruption. but this is a byproduct of deregulation it lets the opportunists run wild.This goes along with the notion classical economists that people will always maximize their utility. But instead of using this as an argument against deregulation they assume that...

It may seem like a contradiction, but the historical evidence can not be displaced by theories or opinions. Remember comparative advantage is based on one moment in time, who's to say that somebody else can't innovate or do it better if given a chance. Those who have that temporary advantage...

it seems accurate. you're not even looking for a theory just a person to idolize. what about the rest of the post what part was emotional

all robust economies have come from protectionist policies.Germany and U.S. pre WWI. Hitlers Germany still baffles economist on the quick turn around. Japan, U.S. post WWII. Using South Korea as an example of free markets is laughable. South Korea is a highly protectionist country. comparing it...

posted this in another thread thought it would work here Classical economic thought was developed by British thinkers thomas malthus, david ricardo, and adam smith.The heart of this ideology was the theory of comparative advantage which states that a nation or region should stick to what...

I'm not sure i follow your post you seem to confuse political systems communism, socialism with economic thought. Economics is the study of how to organize society to produce the most wealth. Classical economic thought was developed by British thinkers thomas malthus, david ricardo, and...

It was a rhetorical question. The President has appointed a bipartisan commission (right-wingers on both sides of the aisle) to “cure” the federal budget deficit by cutting back social spending – to pay yet more bailouts to the economy’s financial wreckers. The National Commission on...

all the way through antiquity up until roman times a debt jubilee happened every 20 years or so. They understood math better than modern day economists.They understood that compound interest grew exponentially and the economy grew linearly thus making it in impossible to pay off debt in the...

And it is. What Stiglitz did not know is that, while in the States, BBC and The Observer obtained several documents from inside the World Bank, stamped over with those pesky warnings, "confidential," "restricted," "not to be disclosed." Let's get back to one: the "Interim Country Assistance...

The World Bank's former Chief Economist's accusations are eye-popping - including how the IMF and US Treasury fixed the Russian elections "It has condemned people to death," the former apparatchik told me. This was like a scene out of Le Carre. The brilliant old agent comes in from the cold...

fascism or keptocracy kleptocracy is a term applied to a government subject to control fraud that takes advantage of governmental corruption to extend the personal wealth and political power of government officials and the ruling class fascism Fascists seek to organize a nation...

when one nation has to carry the debt of another to export, like U.S./china I would call that subsidizing consumption.China would be better off selling it's goods to itself.I know you don't think this is sustainable. free trade centers around the theory of comparative advantage. Which...

it appears that the masses are being held responsible for the machinations of a few. which isn't logically or morally right <iframe title="YouTube video player" width="640" height="390" src="http://www.youtube.com/embed/GUNpIbhaY1Y" frameborder="0" allowfullscreen></iframe> <iframe...

No they concern economics in the aggregate Otherwise 1 nation will subsidize another's consumption ( like we see now). If china would build it's internal markets then they wouldn't be forced to subsidized Americas's consumption. This is the "high wage doctrine" of the lost school of...

if there is no need for people then there is no need for products. what work will be contracted over seas if no products are needed. corporations, production would be obsolete right along with people. that's the point of my post, until consumers spend there is no amount of taxes that can be...