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"economis Is Not A Morality Play" Says Paul Krugman


Era Might

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Full article at the link. Interesting point.

 

http://www.pbs.org/newshour/bb/business/jan-june13/krugman_06-06.html

 

PAUL SOLMAN: Now, Krugman does agree with Stockman about crony capitalism, but not much else.

So, at the end of the interview, I asked Krugman why he thinks Stockman's overall indictment has made such a splash.

PAUL KRUGMAN: Everybody wants economics to be a morality play. Everybody wants it to be a tale of sin and excess, and then the punishment for sin.

And this notion that we had a bubble, we had runaway stuff, we had bankers run wild, therefore, the economy must suffer a sustained slump, and anything you do to mitigate that is somehow enabling the sin and we will pay for it, that's ...

PAUL SOLMAN: Even though there were sins?

PAUL KRUGMAN: Even though there were sins. But economics is not a morality play. There is nothing about the fact that bankers made bad loans in 2005 that says that ordinary workers should be out of work in the year 2013.

People love to write about the -- or talk about the lurid details of everything that went crazy in the bubble years, and they don't really much like to talk about the kind of prosaic, OK, but how do we get people back to work right now?

So, I think that's -- you know, the sermon aspect -- people love to treat economics as a sermon, when it's actually -- it's actually just a job. You know, here's this economy. How do we fix it?

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GregorMendel

Abolishing the IRS would be a good start.


You know we'd still have to pay taxes, right?
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Chestertonian

Why?

 

For many, many reasons. Here's one: taxing productivity is counterproductive.

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GregorMendel

For many, many reasons. Here's one: taxing productivity is counterproductive.


How would we fund local, state, and federal operations of government?
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Nihil Obstat

How would we fund local, state, and federal operations of government?

We do not.

 

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KnightofChrist

Abolishing the IRS would be a good start.


It's a corrupt and abusive government agency with too much power, but the current President isn't Republican, so not only will that not be supported the current IRS scandals and other abusive government agencies scandals will fall on deaf ears. You'll have to wait for a Republican to become President for the MSM to program the masses to care and be outraged about these gross injustices. Edited by KnightofChrist
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KnightofChrist

How would we fund local, state, and federal operations of government?


Funding for all of those was successful before the IRS was established.
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Chestertonian

How would we fund local, state, and federal operations of government?

 

The Fair Tax seems like a good idea.

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Winchester

How would we fund local, state, and federal operations of government?

 

Funny how those things got done before the IRS.
 

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Anastasia13

How would we fund local, state, and federal operations of government?

 

Either trust the goodness of mankind or hire another private collection agency.

 

The Internal Revenue Service is not an agency of the United States government. http://www.illuminati-news.com/irs.htm

Edited by Light and Truth
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