Krugman loses debate -- Calls debates useless next day.

i can say, with confidence, that Krugman deserved the Nobel Prize in economics as much as Obomber deserved the Nobel Peace Prize;)

He won it for his work in economic geography, he did deserve it for that. But he's an idiot when it comes to macroeconomics and political economy.

He is an arrogant douchebag though, just like Peter Schiff.
 
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He won it for his work in economic geography, he did deserve it for that. But he's an idiot when it comes to macroeconomics and political economy.

He is an arrogant douchebag though, just like Peter Schiff.

Eh, Schiffster likes to talk loud and a lot but I like em' overall. At least he's on Paul's side and is on the same wavelength.
 
Just made this meme for it

http://qkme.me/3p2d87

I am to stupid to figure out how to get the picture onto here :(

3p2d87.jpg


Yay! Smarts

priceless
 
I actually agree with his larger point, although I wonder if he would have said that in the face of a clear victory (doubtful).

Maybe he could just take on Murphy in a more formal debate and settle the score...lolzords.

On a larger point, Krugman is the unconstrained vision personified. He's absolutely horrible, as a person and (usually) as an economist (although he has produced some good work that should be acknowledged).
 
He won it for his work in economic geography, he did deserve it for that. But he's an idiot when it comes to macroeconomics and political economy.

He is an arrogant douchebag though, just like Peter Schiff.

I believe some arrogance is okay, in regards to debates and intellectual discourse. However, you have to win first.
 
I wish one of you would spend a minute or 2 proving or disproving. What krugman said about after ww2.

Ok so here we see spending right after the war fell signifcantly
federal-government-spending-history-i6.jpg


The top marginal tax rate was also cut
x3hH2.jpg


Unemployment went up after WWII, but only because of the end of the war effort and millions of men coming back home. It never shot up, however. it was around 5%.
US_Unemployment_1910-1960.gif
 
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He does make a good point about the uselessness of face to face debates. They generally don't accomplish anything.
They are not useless, and they do accomplish things.

In this case, what was accomplished was that viewers were persuaded as to the strength of Ron Paul's positions and the weakness of Krugman's. Krugman's arguments were weak and poorly made; he barely even presented his case at all. He instead reverted very early to obfuscation: just throw around a bunch of random educated-sounding gobbledegook and terminology and obscure historical references and then sit back as everyone defers to your erudition in gape-mouthed awe. That's what he did when the interviewer asked him what the right number was or whatever.

Unfortunately for him, Paul matched him and then some. He understood, and extremely thoroughly, every random reference and Greenspan-babble that Krugman spewed forth. Paul's comments and demeanor made it clear that he understood, and Krugman came off as a know-it-all that had finally met someone who knew much more than him and could call him on his bogus points that usually everyone has no choice but to accept because they don't know anything about it. This type of person is called in the modern vernacular a "poser" I understand. It's always nice to see a poser smacked down by someone who's the real deal. The WWII example, in fact, was the example brought up by Krugman! Paul brought up the facts of the matter and used his own historical episode against him. Every major point Krugman made was addressed by Paul, on the other hand there were several major points which Paul presented or appeared to win decisively, and then Krugman just left them that way, making no attempt at rejoinder. The WWII example, for instance, he just left it hanging there, he never had a "come-back" explaining Paul was wrong.

All in all it was not a completely one-sided debate, it was a good debate, but Paul was the clear victor. I think any Forensics coach would agree. Krugman was just sad. He started off not too bad, but really deteriorated as it went on.

Debate is always for persuading the spectator, not your opponent. Ron Paul does that. Does it well. How many people have come into the liberty movement because of Ron Paul's appearances in debates?
 
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To be fair to Krugman, had he the ability to draw up data on the subject, he could have easily pulled out official US State Dept figures regarding post-WWII spending....

http://economics.about.com/od/useconomichistory/a/post_war.htm

In the above article, the credit for the economic boom goes to both pent-up consumer energy *and* several federal programs directly after the war ended. I'm not a history expert, so I cannot guarantee the accuracy of the article. But it does go towards Krugman's favor that the "debate format" isn't really suitable to anything other than back-and-forth rhetoric.

Either way, I obviously find Krugman's positions to be immoral and incorrect.
 
Did he run off after part one? I wondered where he'd vanished to - hilarious!

No, they held a 15 minute face-to-face debate and after that was an 8 segment where Ron Paul was interviewed about certain economical solutions he had for certain problems.
I'd like to add that the "window break" economical theory (which is an example of Keynesianism) is not wrong. it does generate economical growth just like warfare does. But the wrong thing about it is that it does not increase the welfare of the person who has to pay for all of this.
Instead of spending 800 billion a year on foreign adventures, this money could've been given back to the people of the USA and they could've spend it on the things they wanted to purchase. And that is where the economical loss is made.

Keynesianism is bad in the sense that it just creates huge wastes and a far worse investment climate compared to austrian economics. I didn't take in account the fiat money which would make it even worse for the Keynesians.

Jovan Galtic: My english is awful..
 
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Ok so here we see spending right after the war fell signifcantly
federal-government-spending-history-i6.jpg


The top marginal tax rate was also cut
x3hH2.jpg

But how much did the GDP change along with the government spending? This has the potential to be a very misleading chart without more information on our side.
 
I'd like to add that the "window break" economical theory (which is an example of Keynesianism) is not one that is wrong, it does generate economical increase as warfare does.

How does warfare generate "economic increase"? What is "increased"?
 
No, they held a 15 minute face-to-face debate and after that was an 8 segment where Ron Paul was interviewed about certain economical solutions he had for certain problems.
But after the 15 minute segment the anchor made it clear that she expected she would be right back with both Pauls. that didn't happen. It seemed to me like Krugman "excused himself," as doubtless something urgent had "come up." No rest for those saving the world, you know.
 
helmuth_hubener : Krugman probably had to save the economy by spreading Keynesianism *cough*
JebSanderson : True, a better measurement (relatively seen) is the GDP Purchasing power parity.
Jovan Galtic : The production output increases and eventually the GDP too, but the relative wealth of the people would lower, that is one of the problems in the keynesian theory. (correct me if i'm wrong.)

By the way, I'm a supporter of the Austrian school, but I'm just trying to be objective and unbiased on why Keynesianism will never work for long term sustainability and REAL growth.
 
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