tag:blogger.com,1999:blog-6276561747841568697.post9148873577527025469..comments2024-03-27T05:23:48.855-04:00Comments on Krugman-in-Wonderland: Krugman's Snow Job on EconomicsWilliam L. Andersonhttp://www.blogger.com/profile/01802990642236807359noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6276561747841568697.post-40798634523586014812012-11-01T10:49:12.558-04:002012-11-01T10:49:12.558-04:00Thanks. I see . And then there are bonds un repa...Thanks. I see . And then there are bonds un repaid at a central bank that do not invoke taxes however we still have money and purchasing power only being given to the recipients of government spending and not every individual. There is still a burden on someone. Inflation is an aggregate metric, it does not take into account who has the cash and the spending power.Dineronoreply@blogger.comtag:blogger.com,1999:blog-6276561747841568697.post-80095307214959672272012-10-22T13:11:09.791-04:002012-10-22T13:11:09.791-04:00Actually, I tend to look at deficits as part of Ri...Actually, I tend to look at deficits as part of Ricardian Equivalence. In other words, the real opportunity cost comes through the spending, and however we pay for it, taxation, borrowing, or printing, ultimately has a roughly-equal opportunity cost, although these costs are manifest in different ways.<br /><br />Despite Krugman's claim that borrowing at Fed-induced near-zero interest rates is equivalent to "free money," in reality that is not so. There really is an opportunity cost to any action in which the government purchases resources, period.William L. Andersonhttps://www.blogger.com/profile/01802990642236807359noreply@blogger.comtag:blogger.com,1999:blog-6276561747841568697.post-41074769187442836522012-10-22T08:34:53.643-04:002012-10-22T08:34:53.643-04:00Hi William L Anderson
I've read through many...Hi William L Anderson<br /><br /> I've read through many of your posts.<br />It seems, from reading through the posts, that your only concern about Governmant deficit spending is that it may cause a burden of inflation. But have you not overlooked something. Government borrowing is deffered taxation and so even if it does not cause inflation there is still the burnen of it being a transfer of money from the taxpayer to the receipient of govenment spending.Dineronoreply@blogger.comtag:blogger.com,1999:blog-6276561747841568697.post-36565691001919749782012-10-19T12:38:27.918-04:002012-10-19T12:38:27.918-04:00Krugman sold his economist's soul for a mess o...Krugman sold his economist's soul for a mess of political pottage.Tom E. Snyderhttps://www.blogger.com/profile/13425789987903796346noreply@blogger.com