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PeterGuillam
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"Libertarian Turned Keynesian" Responds

- Mish - Global Economic Analysis

A Columbia graduate? Wow, this speaks volumes about the deterioration of education in this country.

An unemployed person (or anyone else for that matter) primarily needs food, clothing, and shelter. An unemployed person cannot provide any of those to another unemployed person. A person who is hungry doesn't want a haircut, or cleaning services, or a babysitter, or a massage. Their printed IOUs are worth far less than face value because they cannot procure what they truly need with them.

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Début de l'article :In response to How to Debate Paul Krugman: "Ask Questions Like a Child", a self-proclaimed "Libertarian Turned Keynesian", a graduate of Columbia University, writes ... Hello Mish I want you to publish this rebuttal to your post. You can use my first name if you'd like with Libertarian-turned-Keynsian in brackets. Let's say there are 8 million healthy, unemployed people in US. The Treasury can simply print 4 million pieces of IOU claiming that the holder of this piece of paper is entitled... Lire la suite

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