Latest nonsense fromKrugman

[MKTrader]

The fact that they gave Krugman a Nobel was the end of the modern notion that the award has any credibility remaining.

The same with Obama and the so-called peace prize.

 

[MKTrader]

History shows literally the opposite. Today's conservatives are blinded by abstract principles with no empirical basis. Krugman may get some things wrong but he is right most of the time.

Empirical bases in economics = moving targets to make academic papers presentable. Krugman is wrong far more often than he's right. The irony of someone calling Krugman critics faith-based is something else.

 

[Frederick Foresight]

I love the obsession with "credentials"....as if Krugman and others who couldn't have been more wrong haven't made that laughable. I actually thought about getting a Ph.D. in economics when I was younger. But I realized they had an inferiority complex and tried to make it like branch of math or physics. Talk about square pegs and round holes.

So, no credentials. Got it. Just lots of bluster.

 

[MKTrader]

So, no credentials. Got it. Just lots of bluster.

So a pathetic sheep, unable to think for himself, blindly looking to follow the "credentialed." Typical.

 

[ph1l]

So, no credentials. Got it. Just lots of bluster.

Think of Paul Krugman like one would think of the winner of the 1980 Mr. Olympia contest.

 

[Frederick Foresight]

So a pathetic sheep, unable to think for himself, blindly looking to follow the "credentialed." Typical.

Yeah, I get it. You read some slant pieces online and now you’re a clued-in rugged individualist. We’re all in awe.

 

[Clubber Lang]

History shows literally the opposite. Today's conservatives are blinded by abstract principles with no empirical basis. Krugman may get some things wrong but he is right most of the time.

LMFAO
OK snowflake
He’s an absolute train wreck

 

[David's faith]

To me it is all nonsense because most theories were founded long before the 2nd millenium. The new reality is a time where markets are oversaturated with everything, company margins are mostly razor sharp, markets very efficient, real wages stagnating or sinking for the average folks, productivity increases only make a short advantage before competition adopts it, they cut out geopolitical aspects in a globalized world and so on. The theories in summary are completely obsolete. Lower interest rates won't change anything for the working poors in all countries. They aren't even mentioned in modern economy theory which is another fact, but they are essentially the doom and gloom of every economy if their circumstances and prospects change.

 

[Bobbybax]

So, no credentials. Got it. Just lots of bluster.

LTCM was full of people with the credentials you so admire.

 

[Frederick Foresight]

LTCM was full of people with the credentials you so admire.

I read When Genius failed when it first came out. If I recall correctly, John Meriwether took larger risks, and had more faith in the models, than did the scholars who developed them and were on the board. Moral of the story? A little bit of knowledge can be a dangerous thing in the wrong hands. Sound familiar?