Catching Paul Krugman In A Contradiction
Posted at 12:32am on Jan. 12, 2008 Getting His Cookery From Paris And His Politics From Moscow
By Dan McLaughlin
Tom Maguire on Paul Krugman's efforts to put lipstick on the pig of the European welfare state. Of course, deceit is to Krugman what the fedora and the bullwhip are to Indiana Jones.
Posted at 11:46am on Jan. 8, 2008 Re: Krugman
By Jeff Emanuel
Pejman, allow me to quote from that telling link so that we can make sure it's seen. From a letter to the NYT by Cafe Hayek's Don Boudreaux:
Paul Krugman again insists that trade with low-wage countries - especially China - threatens to depress wages in America ("Dealing With the Dragon, January 4). So I again refer Mr. Krugman (the shrill pundit) to Dr. Krugman (the skilled scholar of trade).
In his excellent 1996 essay "Ricardo's Difficult Idea," Dr. Krugman pointed out that wages are determined by worker productivity. Therefore, low wages reflect low productivity. This fact, once grasped, reveals that low-wage countries have no general competitive advantage over high-wage countries. Dr. Krugman continued: "Someone like [James] Goldsmith [a protectionist] looks at Vietnam and asks, 'what would happen if people who work for such low wages manage to achieve Western productivity?' The economist's answer is, 'if they achieve Western productivity, they will be paid Western wages' - as has in fact happened in Japan."
Substitute "Mr. Krugman" for "Goldsmith," and "China" for "Vietnam," and Dr. Krugman's learning should calm Mr. Krugman's fears.
Sincerely,
Donald J. Boudreaux
Now that's some good stuff.
Posted at 3:35am on Nov. 17, 2007 "Krugman v. Krugman" (There's More!)
By Pejman Yousefzadeh
The internal debate continues. I predict that the next time a Democrat is elected President, Krugman will rediscover that Social Security is indeed in crisis. And then he will ignore all of the people who point out his argumentative contortions on the issue--just as he is ignoring them now.
You see, this is somehow supposed to be responsible punditry. And perhaps in another universe, it is.
Here, however, it is something quite different.
Posted in Catching Paul Krugman In A Contradiction | Economy | Flip-Flopping | Social Security — Comments (1)/ Email this page » / Read More »
Posted at 2:34am on Oct. 30, 2007 Ha!
By Pejman Yousefzadeh
Well played, Mankiw. Well played, indeed.
