Krugman vs. Krugman

[malignd at aol.com]

I hate endless relativism, but I think, off the bat, that this isn't true.  Economics in the real world is endlessly complex and it seems that everyone, given a reasonable timespan gets it wrong.  And there's a world economy that encompasses, moment to moment, what goes on in the US and Somalia and Holland and everywhere else.  What truth can anyone utter at any given moment, other than statistics (which I really don't think are truths).

Certain insights of economics are true or they aren't. The world is all that is the case. 




-----Original Message-----
From: Markekohut <markekohut at yahoo.com>
To: Paul Mackin <mackin.paul at verizon.net>
Cc: pynchon-l <pynchon-l at waste.org>
Sent: Wed, Dec 12, 2012 3:37 pm
Subject: Re: Krugman vs. Krugman


Normative economics, Alice, sounds like some labeling that means nothing.


Certain insights of economics are true or they aren't. The world is all that is the case. 


Sent from my iPad

On Dec 12, 2012, at 11:43 AM, Paul Mackin <mackin.paul at verizon.net> wrote:



              
On 12/12/2012 10:47 AM, David Morris      wrote:
    
    
Thanks for the normative economics definition. Seems      to me its opposite isn't really positive economics, but evil      economics.  The point of good economics is to encourage societal      goals through carrots and sticks, regulation and oversight.  A      tall order, but a good goal seeks ideals.
    
    Positive economics is value-judged good, (not evil) because it    provides an understanding of how economic forces tend to work.  This    knowledge enables normative economics to devise methods by which    society's goals can be aimed for. 
    
    P.
    
    
      
        
        
And despite your logorrhea, you still haven't pointed out          any "double talk" by Krugman.
        

        
      
      

        
        
On Wed, Dec 12, 2012 at 5:12 AM, alice          wellintown <alicewellintown at gmail.com>          wrote:
          
In the            Bots and Barons editorial Krug sunk to a new low as he put            on
            the scarlet class war robe of normative economics, calling            up Marx
            from his grave in the haunted yard of command economic            tragedies,
            whilst his invisible hand, up there in the upper wings of            the theater,
            parading a puppet show of robber barons and robots, fooled            no one not
            taken in by shadows on the wall.
            
            Krugman the journalist, like TRP, author of Inherent Vice--a            book for
            beach readers, is hawking his books to a public of financial
            illiterates and is now at risk of making himself a puppet in            his own
            show. A mouthpiece that spews normative political economics            and
            ignores the facts. The facts, as Ronald Ray-Gun said, as Mr.
            Gradgrind, a figure form the Dickens novel Krug suggests we            all go
            live in,  instructed, are in the numbers revised and            revisited...and
            so....
            
            as Ben Bernanke, who saw no inflation but the risk of            deflation long
            before Krugman spouted out from his chair on cnbc with mad            Ron Paul
            readying a gallows for the gentle academic of Princeton, the            Chairman
            of the Fed, long before the idiot winds of congress and the            wall
            street boyz with Smithian club ties turned their rhetoric            and put it
            where the smart money has always been, in the bond market,            long before
            the so-called bond vigilantes put their portfolios of            leverage and
            derivatives back in their holsters, for a new sheriff of            wall street,
            not a Spitzer with his boxers on his wing tips, a Brazilian            call girl
            at his penis...no...only a soft spoken bearded Jewish man            from the
            halls of that august institution that Wilson once called
            on...there....where Krugman sat, a young scholar under Ben,            reading
            those famous letters to FDR...there he is, an American Hero.            Just ask
            the European about Ben. How they would swap their German            backed bonds
            for a backbone like the one that hold tha gentle scholar,            whose voice
            cracks and whose hands shake when the powerful congress            members spit
            blood in his face, but he does not back down....
            
             Itz book selling and envy that has set Krugman against            Krugman. He
            makes a fine show, but Ben has the intestina fortitude, the
            Grace...what Jews call, well....Balls.
            
            
            http://en.wikipedia.org/wiki/Normative_economics
          
        
        
      
    
    
  

 
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