Counterrevolutionary Paul Krugman

U.$. inflation in February 2009 was 0.2% over the previous year. 2008 inflation was the lowest on record going back to 1954.(1)

Economist Paul Krugman is saying the world risks depression economics and deflation. He advocates stimulus spending to prevent a downward cycle of deflation in prices.

After accusing Germany of governing itself the way Republicans talk, Krugman noted that Europe has “automatic stabilizers”(2) for consumption — welfare. This is what the Democrats offer, open manipulation toward stability; yet, we have Confucians who think that that is a good thing.

MIM has proved that these welfare benefits go to non-exploited people. In addition, even Keynesian economists call them “automatic stabilizers.”

Revolutionaries who get their economics from Keynesians are not revolutionaries anymore. We favor class struggle, not patching up a militarism-for-profit system.

Note:
1. http://www.ft.com/cms/s/0/cc54bbfc-13b0-11de-9e32-0000779fd2ac.html?nclick_check=1
2. http://www.nytimes.com/2009/03/16/opinion/16krugman.html?partner=rssnyt&emc=rss

Advertisements

Tags:


%d bloggers like this: