I want some Krugman memes to throw at my professor during a presentation next week.
My macroeconomics professor worships Krugman, and would probably fellate him for $1,000.
Help a brother out.
I'm just gonna leave this here. Especially for you: >>36581627
-Talk about digging holes and hiring people to fill them up. Make a really smug face as ifyou just checkmated every working economist
-Talk about how gold and silver is the only real currency.
-Drop "taxation is theft" somewhere.
-Talk about the reptilian conspiracy to control the money supply
Le Evil Bitcoin Prophet
>tfw when your macroecon book was written by Paul Krugman
>always here about this "Krugman" guy, and how he is a Keynesian bastard
>See this post
>realize that your school has been pushing Keynesian garbage down student's throats
To be fair this is wrong because he underestimated how much bullshit people wanted to throw around,
Its like in old TV shows were a couple had to go to the neighbors and watch vacation slides. Thats what the internet is to most normals.
do you know how many people use YP on a weekly basis? do you know how many companies use online recruiting?
You didn't think about what you were saying, you just said what felt right at the time.
>Keynesian economics (/ˈkeJnziən/ KAYN-zee-ən; or Keynesianism) is the view that in the short run, especially during recessions, economic output is strongly influenced by aggregate demand (total spending in the economy).
>planning short term
>manipulating people into buying shit they don't need (bubble after bubble after bubble)
>this is wrong because he underestimated how much bullshit people wanted to throw around
Because he has no fucking idea how the world works. He has a pretty good idea of how a certain number of processes work, that's it, that's where his expertise ends.
Evolution is an almost perfect allegory for how people interact with the internet. Mutations in the genome are almost always fatal, or highly debilitating. Trillions of defective offspring are produced every year worldwide. But every now and then, a mutation takes hold, and is able to thrive.
The internet is much the same. Half-truths, and complete nonsense, dominate the vast majority of discussion (even offline). The internet is an enzyme to facilitate the process, it doesn't change it, it isn't a separate process, it just speeds it up. Communication being made faster, more efficient, and more varied, means that ideas can be tested more quickly.
The internet will never have a chilling effect on the economy, Krugman was downright wrong because he's a blowhard who speaks on issues of which he has absolutely no knowledge. He's exactly like Marx in this regard, and almost everything Marx predicted didn't happen. It's no wonder they share similar breeds of beta orbiters.
>manipulating people into buying shit they don't need (bubble after bubble after bubble)
you boost demand by building infrastructure. this isn't china; our infrastructure is turning to shit. unfortunately we spent during boom, and hardly did during bust.
this new bubble is because congress didn't do shit.
>hello service sector
goodbye manufacturing base
so people are going to want new tires for their ATV because the roads are pretty and they have t1 lines? not trying to strawman, but is that effectively what you're saying?
>Because he has no fucking idea how the world works.
In his defense, he's really good on international trade theory.
Otherwise, he's a sack of shit and aself-serving son of a bitch.
>our infrastructure is turning to shit
it always is. from the second you're done building it.
in ontario, we've created a $13 billion deficit by "fixing" our infrastructure to "boost the economy"
businesses are most worried about getting taxed more to fix the deficit rather than a lack of good infrastructure, and people are most worried about keeping their jobs.
there's plenty of demand to go around. I still want my death star
re-paving roads doesn't have a real economic return.
price inflation drives spending over saving and keynesian economics perscribes spending and minimizing savings.
printing money and running budget deficits for "muh infrastruture" increases spending and reduces savings which keynes considered "lost" economic potential
>but is that effectively what you're saying?
infrastructure is critical for an economy to function. if it breaks down, said economy suffers. we should at least maintain it, which we aren't.
additionally, a growing population/economy/country requires more infrastructure, and good infrastructure helps our competitiveness (universally accepted concept).
Ex: The most cost-effective method of generating power is X at location Y. location Y, however, physically cannot transmit power to the areas that demand it, thus this power is provided through less efficient means.
That may be so, but you'll have to excuse me for not giving a fuck. I can't be buggered to worry about fat diabetics running out of hot dog flavored corn syrup bcuz the eisenhower tunnel closed due to lack of maintenance.
You say we aren't maintaining our infrastructure. Can you provide an example of that? I know that we provided plenty of money to solar companies. I know that we seem to think using a pipeline is less efficient than using rail cars.
I'm not trying to get into a political debate, so sorry that my examples are fairly partisan (for some reason they're partisan. I fucking hate people.), but an example, please.
>roads are the only form of infrastructure
We gain temporary stimulus via building these things, and "permanent" "stimulus" via the economic activity these allow, as well as a small amount of stimulus via maintaining them.
>Energy Pipelines (yes, like keystone)
Our economy needs these things. Our world-class Seaways and freight rails have managed to keep us competitive despite everything else. We do still manufacture $2.5T worth of goods, only $500B less than China.
>Middle class grows and society does great under Keynesian economic policy for years, then Reagen comes in and switches the country to nonsensical supply-side/voodoo economics and the middle class has been going down ever since.
Does that help?
The poor dude did not steal the money for his tuition, and he directly receives the benefits of his education. Government debt is funded through (at least some) unwilling tax payers and the decision to do it is made by politicians whose lives will remain relatively unaffected even if the investment doesn't pay off.
In my area the airport project is on indefinite hold due to fraud by the people managing it.
We are "putting in pipelines" to a facility that may or may not be built within the next 15 years in an attempt to stimulate the economy. We can't do this without getting grants and loans, despite a 160mil city operating budget.
The airport and the pipeline project would both be huge boons. The airport fucked itself. The pipelines... i just... bridges built in years. A building built in a decade.
Just burn it all down.
We ebola now man. I'm prepared, kind of. But I can't own guns! but I live in a rural place. i have gloves. facemasks. etc. water. food.
The end is so close i can taste the ashes
>but you'll have to excuse me for not giving a fuck
i prefer the free market be able to function.
> I can't be buggered to worry about america running out of factories because our ports are closed due to lack of maintenance.
>You say we aren't maintaining our infrastructure. Can you provide an example of that?
One of the most commonly cited examples of this is the I-35W bridge collapse here in the Twin Cities. The interstate has been critical for commerce for decades, and that bridge should have been replaced long ago with a higher-capacity bridge. A google search yields LOTS of information on this.
>I know that we provided plenty of money to solar companies.
oil companies as well (we shouldn't subsidize either)
> I know that we seem to think using a pipeline is less efficient than using rail cars.
I'm also posted >>36588263 after seeing the 2 mentions of roads.
as a further example, here in muh twin cities, there are a ton of construction projects, public and private, going on.
>Mall of America expansion
>New Vikings stadium
>New Saints stadium
>Nicollete Mall being redone in minneapolis
>lots of development around the new light rail
thanks to public-subsidized and public-private planned buildings and infrastructure, the twin cities metropolitan area has the lowest unemployment rate (among metropolitan areas) in the nation. We also now have the second largest economy in the midwest, having surpassed detroit a week or two ago.
krugman and keynesians have managed to almost make the most boring topic of all time (economics) kind of interesting as the refutations are so sound they become comedic.
>implying free market
>implying regulation and oversight
>implying we aren't "investing in infrastructure already"
>implying new handegg arenas are really going to help your economy
>implying grown men ought to be paid millions for playing a child's sport
An alien invasion could fix the economy.
This from one of our "leading" economists.
We are fucking doomed. Apparently things are so monumentally fucked up that we need an alien invasion to fix our economy.
>there has never been a REAL free market!
>implying regulation and oversight?
>implying we are sufficiently investing in infrastructure
>implying the stadium isn't helping revitalize the downtown area
>ignoring the rebirth of downtown minneapolis
>implying you're not a cuck
>implying that post was serious because at this point we are totally going to convince one another to change our points of view so why not throw out a bunch of nonsense?
because you don't have a sense of humor. You sound dry and bland, if your writing style is any indication.
What's worse than the Holocaust?
6 million jews.
what's worse than that?
the ones that survived.
>implying infrastructure is bad
Optimally, yes. But we aren't spending more money to be competitive in the global marketplace. We're spending money to buy votes for incumbents and other shitty things like that.
I'm only "opposed" to spending because I know what happens with the money, at least in my area. We price match the fed highway fund 30/70 or something to fix up an overpass which is perfectly usable but we want to make it look prettier.