Team Obama admits it's a matter of race

[futurecurrents]

Paul Krugman rocks.

In 2008, Krugman won the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography. According to the prize Committee, the prize was given for Krugman's work explaining the patterns of international trade and the geographic concentration of wealth, by examining the impact of economies of scale and of consumer preferences for diverse goods and services.[9]

Krugman is known in academia for his work on international economics (including trade theory, economic geography, and international finance),[10][11] liquidity traps, and currency crises. He is the 17th most widely cited economist in the world today[12] and is ranked among the most influential academic thinkers in the US.[13]

As of 2008, Krugman has written 20 books and has published over 200 scholarly articles in professional journals and edited volumes.[14] He has also written more than 750 columns on economic and political issues for The New York Times.

 

[Ricter]

Quote from denner:

Regardless, as a small business owner, do you think you can more effectively allocate the tax "savings" or the g'ment?

Government can provide some services, via the jobs it creates, better than I can.

 

[futurecurrents]

Quote from Mike805:

I think you may be taking that specific exchange out of context... not that I agree with or endorse Krugman, but, what he's saying is that, as a society, someone or some entity has to fabricate (or create) incentive.

Incentive can be purely fictional, or, it can be the Nazis or Stalin or the Terrorists. In either case, only the government can organize a massive effort on the scale of WWII or space aliens.

Money is just a tool. Whether or not it is spent recklessly is purely subjective. Money, in general has been a "house of cards" since the very first day someone wrote an IOU...

Yup. Ship of state. Just try sailing one without a captain.

 

[denner]

Quote from futurecurrents:

Yup. Ship of state. Just try sailing one without a captain.

Were you playing "backdoor man" when you typed this jibberish?

 

[jem]

Krugman is completely disingenuous with his arguments.
He leaves out important facts.

But, most importantly is the the biggest cheerleader for the destructive idea that you can solve a massive debt problem with more massive deficit spending.

Every economist in the world has been trained on the blueprint for hyper inflation. Massive deficit spending and printing by the govt causes hyper inflation.

You will note after seeing what is happening in Europe (in that those who balanced their budgets are recovering best) he seems to have shut up on that issue.

Quote from futurecurrents:

Paul Krugman rocks.

In 2008, Krugman won the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography. According to the prize Committee, the prize was given for Krugman's work explaining the patterns of international trade and the geographic concentration of wealth, by examining the impact of economies of scale and of consumer preferences for diverse goods and services.[9]

Krugman is known in academia for his work on international economics (including trade theory, economic geography, and international finance),[10][11] liquidity traps, and currency crises. He is the 17th most widely cited economist in the world today[12] and is ranked among the most influential academic thinkers in the US.[13]

As of 2008, Krugman has written 20 books and has published over 200 scholarly articles in professional journals and edited volumes.[14] He has also written more than 750 columns on economic and political issues for The New York Times.

 

[jem]

The stimulus created very very few jobs in the U.S. It provided far more jobs for oversea companies.

So unless you take Krugmans argument to mean with need massive spending and a new administration who will spend it on roads and trains, we are not buying it.

Plus... our economy is so mature there may be little or nothing more govt spending can do that is productive.

 

[Ricter]

Quote from jem:

The stimulus created very very few jobs in the U.S. It provided far more jobs for oversea companies.

So you admit government spending can create jobs?

 

[Mike805]

Quote from Ricter:

So you admit government spending can create jobs?

That's like saying: lets spend 100 man hours and $100k to make "X" happen. We can make "X" at those prices because we have no restrictions or incentive to be efficient.

All the while, the true value of "X" in the marketplace is 1 man hour and $100.

So, yes, "X" can be made, but what's the value of doing so?

 

[denner]

Quote from Ricter:

So you admit government spending can create jobs?

That sounded as desperate as Krugman opining about an alien invasion.

 

[Ricter]

Quote from Mike805:

That's like saying: lets spend 100 man hours and $100k to make "X" happen. We can make "X" at those prices because we have no restrictions or incentive to be efficient.

All the while, the true value of "X" in the marketplace is 1 man hour and $100.

So, yes, "X" can be made, but what's the value of doing so?

"Yes" is sufficient for now, thank you.