Tuesday, June 5, on Gadfly Radio, Robert Higgs, Senior Fellow in Political Economy for The Independent Institute and Editor of the Institute’s quarterly journal The Independent Review, joins Martha Montelongo, CalWatchDog‘s managing editor, John Seiler, and Ben Boychuk, Associate Editor with City Journal.
To spend, tax and regulate, more, to get us out of our economic depression. That’s what Celebrity Economist, Paul Krugman calls for. He ignores the growth, power and corruption of Big Govt and the effect of war economics, and the erosion of liberty, and the devastation on the small business private sector.
A debate rages across the Atlantic, and here, in the U.S.
Greece already hit breaking point and the news today, as I write, is people are resorting to barter, to manage in the economic crisis that resulted from the bloated, wasteful unproductive public sector and massive borrowing on public works.
Spain is in even worse shape only the breaking point has yet to hit. The unemployment for young adults 25 and under is well over 51 percent in Spain.
England is also in severe economic crisis, the current government has recently implemented what they call severe austerity measures, but the situation has only worsened.
In the U.S., several states, with California leading, neck and neck with Illinois, are routinely compared to Greece.
Political and, I must not forget, Nobel Prize Winning Economist, Paul Krugman ( I force myself to omit the quotation marks, for Hayek, too, won a Nobel Price for Economics), has been getting a lot of press of late, in the U.S. but also, abroad, in Europe.
He is and has been promoting his book, End this Depression Now!
He calls for policy that includes much more Government spending, and a deliberate allowance of “some” inflation, to occur.
Krugman mocks those who compare a country’s debt crisis with that of a family that has spent itself into bankruptcy, and would reduce spending to get out of debt.
He dismisses those who call for a return to a gold standard as fool hardy.
And he points to Sweden and Austria, with government work forces that make up over 50 percent of the economy, as models we should follow. He asserts, these big-government nations are better off, and are weathering the storm well, compared to Great Britain, Spain, Greece, Portugal, and the U.S.
This why I loved Ralph Benko’s recent piece, Unemployment Reality To Paul Krugman: “I Refute It Thus.”
The title alone made me laugh. A shared sentiment, so cleverly expressed! I experienced wonderful delight. But also, I loved the quote:
“After we came out of the church, we stood talking for some time together of Bishop Berkeley’s ingenious sophistry to prove the nonexistence of matter, and that every thing in the universe is merely ideal. I observed, that though we are satisfied his doctrine is not true, it is impossible to refute it. I never shall forget the alacrity with which Johnson answered, striking his foot with mighty force against a large stone, till he rebounded from it — ‘I refute it thus.” — Boswell, Life of Samuel Johnson
I refute what Krugman is advocating, but I would like to have Higgs, please explain, in short pithy words with brevity, and clarity.
So much hangs in the balance.
Robert Higgs is the Author of many important works, including “Crisis and Leviathan,” Depression, War, and Cold War, and new, just out in May, in both Hardcover and Paperback, Delusions of Power: New Explorations of the State, War, and Economy
I received a hardcover copy of Krugman’s book as a gift, by a concerned and loving friend, and then I bought it as a Kindle version, and then also, as an audio file. I want to see Robert Higgs’ books I mentioned above, available in digital, and audio.
I listened to an audio of his Higgs’s interview with Tom Woods, and Nick Gillespie and of presentations he has made on Depression, War and Cold War and Leviathan and I want to hear and learn more. I hope he sells many books. His message is profound.
Click here for a collection of articles and videos on Robert Higgs, defying Paul Krugman’s ideas, and Higgs, on Big Government, TARP, and the impact of war on the economy and small businesses. This is a a great collection!
Higgs is compelling. He communicates with a deep compassion for and faith in humanity. We’ll talk with him about Krugman’s assertions in End This Depression Now!
More Related Links:
Krugman: More Economic Destruction Needed To Revive Economy | The Daily Capitalist (A Refute!)
Paul Krugman, European celebrity – Paul Krugman – Salon.com (I think “celebrity” is not intended as ironic.)
Krugman in his own words:
Paul Krugman: Mitt Romney Doesn’t Mean Anything He’s Saying: The New York Times columnist talks about Romney, the European austerity trap, and why stimulus isn’t a dirty word
By Tierney Sneed | – US News and World Report ( This is a point by point case on Krugman’s arguments for more, bigger spending and regulating to save us, in 900 words ).