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Source link: http://archive.mises.org/10214/dean-krugman-to-the-marching-band-stay-the-course/

Dean Krugman to the Marching Band: “Stay the Course!”

July 2, 2009 by

All who remember Animal House can recall the scene at the end in which the band is trying to walk through the wall at the end of the alley, having been led there by one of the pranksters from Delta House. Obviously this moment is an absurdity, but nonetheless I can think of no better way to describe Paul Krugman’s latest exhortation to the Obama administration to “stay the course.” FULL ARTICLE


dewind July 2, 2009 at 9:04 am

Has his experiment not been verified as a failure in Zimbabwe? Perhaps his ideal world is more sinister than ours.

If we continue to pump money into the system there will be a lot of liquidity in the market. This should keep employment relatively stable while effectively smashing real wages to oblivion. We will then have a pseudo-slavery society where a lot of people are employed for nothing. We will be forced to rely on the nanny state like a slave is to their master.

Ah, the joys of “Full Employment”.

Matt R. July 2, 2009 at 9:33 am

If Krugman is so intelligent, then perhaps he could’ve done more to prevent his publication from going bankrupt (By this I mean financially, since intellectually that’s been the case for some time).

Bogart July 2, 2009 at 9:54 am

I hoped the author would have said something like:
“Face it, you threw up on Krugman.”

This whole total employment philosophy is silly and we have these examples of large increases in the amount of currency hurting the economy: Japan, Argentina, France, Zimbabwae, Russia, etc.

If he wants total employment then simply outlaw all non-human powered electric generators. That would require lots of folks or animals to make electricity.

Christopher July 2, 2009 at 11:17 am

Excellent article. Please please please keep writing about Krugman’s idiocy. Unfortunately, it seems to be fact that he has the nation’s ear. Articles like this are our only chance to encourage the populace to question this charlatan.

Walt D. July 2, 2009 at 1:44 pm

Bluto: Christ. Seven years of college down the drain.
Was he talking about taking Krugman’s economics classes?

Will July 2, 2009 at 2:07 pm

Krugman is a self-centered egotistical economist. The economy must be manipulated, he contends, and ‘maintained’ at all costs so that it functions properly.
Never mind that it is arrogant bordering on narcissistic to suggest that such a natural phenomenon can be controlled without dire and unforseen consequences; Krugman is so self important in his position as an economist that he views the economy as an entity to be served for it’s own sake rather than a manifestation of human action.
This same mind set infects politicians to the degree that now we have a government that exists solely to serve itself.

clever-title July 2, 2009 at 7:18 pm

Krugman leading the band down the blind alley only makes sense. After all, Tim Geithner is Kevin Bacon shouting “Remain calm – All is well”

ABOM July 3, 2009 at 12:58 am

Has Krugman ever heard of the phrase “when in a hole, STOP DIGGING”?

Apparently not…


The guy is insane. He’s like one of those wind-up robots the kids get, and he’s hit a wall, and he just keeps on whirrrrringggg away against the wall.

Bill Anderson July 3, 2009 at 6:44 pm

Someone needs to tell Krugman that fat, drunk, and stupid is no way to go through life. Unless he has a doctorate from MIT and teaches at Princeton. Then drunk and stupid works quite well.

End the Fed July 6, 2009 at 4:27 pm

“We’re going to need a bigger stimulus.”

LOL…So if the stimulus “works”, that proves Keynesian Non-Economics. If the stimulus doesn’t “work”, it’s because we didn’t really practice Keynesian Non-Economics (because it wasn’t “big enough”).

The only stimulus is an increase in producion. That can only be done by allocating capital towards more productive uses. That can only be done by getting the government out of the way.

Gabe July 6, 2009 at 6:47 pm

The stimulus has been effective at getting me to allocate more money towards physical metals purchases.

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