The View From 1776

Krugman and Friedman - Part Three

Krugman is tarred with his own brush.

Posted by .(JavaScript must be enabled to view this email address) on 04/26 at 12:43 PM
  1. "...every government spending program has produced inflation."

    We know this is an exaggeration. In the last six years of the spending Bush administration inflation has been very low. And even during the "hateful" Clinton years inflation was pretty low. (Clinton expanded spending far, far less than Bush, and left a surplus.)

    Perhaps, though, the inflation of the Bush years is still to come. I guess it depends on what other countries decide to do with their huge American dollar reserves, which is losing its value.
    Posted by .(JavaScript must be enabled to view this email address)  on  04/26  at  02:20 PM
  2. Why has the world turned out the way it has, on the social, liberal side rather than the way the Brewtons of the world would have it, harsher, more conservative and traditional?

    Hegel used the phrase the "cunning of reason" to explain why history turns out the way it does, in this case leaning more towards liberalism than conservatism. The reason, liberalism is more reasonable and just with the people of the world than the alternative of inflexible, entrenched traditionalism. The world also functions better on a liberal platform.

    Liberalism is on the side of the angels, hence it being the main historic event.
    Posted by .(JavaScript must be enabled to view this email address)  on  04/26  at  02:46 PM
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