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ramasart
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"Libertarian Turned Keynesian" Responds

- Mish - Global Economic Analysis

This is more of the same type of faulty logic that I hear espoused by those who apparently cannot think critically (and are typically promoted by the media as "economic experts")--Government can create GDP "out of thin air" just by printing pieces of paper (or some variation thereof). It's inherently ridiculous, and anyone with a modicum of mental agility or intellect should be able to shred the argument. Unfortunately, it's seldom done because of the nature of those who promote such ideas--it's almost always done as a reason to enlarge our already bloated government, by working to convince the ignorant or benighted that the government should control everything, or that the thought of the same is actually a good thing. Based on that line of thinking (taken to the ridiculous), the Fed should just print off enough money so that all of us could just buy whatever we want, whenever we want it, and everything will be just fine. We can create GDP out of thin air, and all the world's problems are now solved.

Thank you sir, for your article.

Commented 4240 days ago

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Beginning of the headline :In response to How to Debate Paul Krugman: "Ask Questions Like a Child", a self-proclaimed "Libertarian Turned Keynesian", a graduate of Columbia University, writes ... Hello Mish I want you to publish this rebuttal to your post. You can use my first name if you'd like with Libertarian-turned-Keynsian in brackets. Let's say there are 8 million healthy, unemployed people in US. The Treasury can simply print 4 million pieces of IOU claiming that the holder of this piece of paper is entitled... Read More

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