The Genius of Paul Krugman

“The direct effect of a bursting bubble on measured output is zero. Nor, by the way, is a fall in asset prices counted as a decline in the capital stock, which is in principle measured in physical terms.”  – Paul Krugman

1 comment to The Genius of Paul Krugman

  • NYrationallibertarian

    Scary is the only word for his genius; I often imagine he has a hard time finding hats that fit.

    On a more serious note, how does I get’s me one of them Nobeel prizes? I’s can count past 100 w/o fingers OR toes.

    I have a special place in my heart for this “former Enron adviser”-type genius.


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The time to prevent the coming of a depression is the [artificial] boom. — F. A. Hayek

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