Paul Krugman:Occupy Wall Street has changed the conversation

Prescient Nobel laureate economist Paul Krugman gives props to OWS. 10-21-2011
Mashikisays...

>> ^quantumushroom:

Ah, these Keynesian Klugmans, trying to clean up a government-created mess with more government.


Eh what do you expect? Keynesian economics is doomed to fail, for one simple reason. Throwing money at a problem doesn't work. What surprises me more is that these "99%er's" and ows idiots are promoting the same problem that created the problem. Weee! 100 years of failed keynesian economics comes back to bite the world in the ass, and the solution? More failed keynesian economics.

Mikus_Aureliussays...

Failed compared to what?

There are plenty of people who know enough about economics to intelligently dispute Krugman's (or Keynes') theories. Based on the comments above, I'd guess none of them are posting here.

To be fair, I doubt there are are many economists camping out and beating bongos either. Most of the economic theories held by individual protestors are as unsupported as the ones on the sift. That does not invalidate their general unhappiness with the political system or their desire to see certain measurable inequalities in our economy addressed.

HaricotVertjokingly says...

Oh, totally! I mean, in no way do the investment banks and corporate stakeholders bear any responsibility whatsoever for the mortgage and subsequent banking crisis. Absolutely 100% innocent. Completely government-created mess. Yep. No question.
>> ^quantumushroom:

Ah, these Keynesian Klugmans, trying to clean up a government-created mess with more government.

bookfacesays...

>> ^Mikus_Aurelius:

Failed compared to what?
There are plenty of people who know enough about economics to intelligently dispute Krugman's (or Keynes') theories. Based on the comments above, I'd guess none of them are posting here.
To be fair, I doubt there are are many economists camping out and beating bongos either. Most of the economic theories held by individual protestors are as unsupported as the ones on the sift. That does not invalidate their general unhappiness with the political system or their desire to see certain measurable inequalities in our economy addressed.


A good question. People in the US need to remember one glaringly obvious fact: socialism, communism, and the like didn't bring the world economy to its knees. The corporatist and capitalist criminals on Wall St. and the beltway did that. I don't know that any one of these economic theories is the solution to our situation but let's be clear: criminals brought us where we are today and not marxists, keynesians, or any of the other usual suspects.

bookfacesays...

>> ^bookface:

>> ^Mikus_Aurelius:
Failed compared to what?
There are plenty of people who know enough about economics to intelligently dispute Krugman's (or Keynes') theories. Based on the comments above, I'd guess none of them are posting here.
To be fair, I doubt there are are many economists camping out and beating bongos either. Most of the economic theories held by individual protestors are as unsupported as the ones on the sift. That does not invalidate their general unhappiness with the political system or their desire to see certain measurable inequalities in our economy addressed.

A good question. People in the US need to remember one glaringly obvious fact: socialism, communism, and the like didn't bring the world economy to its knees. The corporatist and capitalist criminals on Wall St. and the beltway did that. I don't know that any one of these economic theories is the solution to our situation but let's be clear: criminals brought us where we are today and not marxists, keynesians, or any of the other usual suspects.


P.S. no one needs a degree in economics to know they're getting ripped off by the 1% and friends, but playing a bongo does take some practice. Have you ever successfully played a hand drum? It's tough. Wait until you try tabla, buddy :-)

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