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Lv 5
? asked in Politics & GovernmentPolitics · 9 years ago

Republicans can you tell me how this is not correct?

http://www.nytimes.com/2012/05/04/opinion/krugman-...

if you just dismiss saying it is from the nyt, you are clearly just exerting your own definition of a sheep that just follows what it is told

Update:

i am not looking for someone to say that there is nothing wrong with it, i will give 10 points to the best argument against Mr Krugman

Update 2:

@bummer obama how am i admitting that, just because i want to see another arugment does not mean i agree with it

Update 3:

@thepew i judge the media by their quality of reporting not by their building or who owns it for that matter

and i have seen their new place near the bus terminal it is a pretty nice place

Update 4:

@laura i should clarify then that when i say dismiss i mean not even read and consider it, not disagreeing with it

Update 5:

@trbl well at least i can know what is wrong when rush talk unlike what seems to be different with your case

Update 6:

@texas patriot is most likely the best answer so far, even though i do not agree with him

Update 7:

@u-bin good argument, first i think your ignorance about history is flawed, if we cant not learn fromt he past how are we stooped to make the same mistakes again

you say that american enjoy better quality of life then ever before, then if that wasn't the case then we would be in much worst shape then what i even thought, i course we are going to grow but it is how we achieve the best growth

Update 8:

@u-bin good argument, first i think your ignorance about history is flawed, if we cant not learn fromt he past how are we stooped to make the same mistakes again

you say that american enjoy better quality of life then ever before, then if that wasn't the case then we would be in much worst shape then what i even thought, i course we are going to grow but it is how we achieve the best growth

Update 9:

@iceT well he is a very smart man, but he hates income inequality like i do, he doesn't says that there is a causation effect of income inequality but instead that the two variables can predict each other(correlation value), ie income inequality and a depression

Update 10:

@how would i know, you name says it all for an explanation of an answer, have you seen the credentials of Mr Krugman

Update 11:

@how would i know, you name says it all for an explanation of an answer, have you seen the credentials of Mr Krugman

Update 12:

@jonnny all you said was that the rich argument is wrong without saying why, which a lot of answers do as well, i think the rich argument like Krugman shows is way underrated

Update 13:

@u_bin, i would like to thank you to a good answer first, but you again are just saying that people are better off today then they were before. So what

What happens if we can be better for if we level the wealth distribution, how would that not create better growth and more freedom along with happiness

Update 14:

@iceT, the lost decade of Japan was a liquidly crisis where they were unable to use monetary policy anymore and therefore deflation happened

that is monetary policy not fiscal policy which keynes is the favor towards

Update 15:

@trbl I see that your only argument still is about my grammar in a political discussion, that still does not disprove my first point about you

Update 16:

@liberal i would love if that was the case, i really would. Leave it up to the "invisible hand" is easier said then done. But we are all people in a society, we aren't all born in the same environment nor do we have the same abilities. Some people get an advantage at life by being born into a more wealth family, some are born into a poor neighborhood, should we dictate someone's life just by the place they were born. I do not think so. That is why if we have income equality with a motive to better oneself then we can get the most productive allocation of resources

17 Answers

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  • u_bin_called
    Lv 7
    9 years ago
    Favorite Answer

    well....first of all it is an opinion piece.....so "right" and "wrong" isn't really the issue so much as the agenda being pushed with the "facts."

    ...second, any "scholar" that feels the need to pander to the emotionalism of the day by using such academically unfounded terms as "The 1%" does nothing to gain credibility in my eyes..

    ..now as for those "facts" .... notice the talk (again) is about wealth DISTRIBUTION ... in other words, the writer is ignoring the fact that Americans of all walks of life enjoy greater net wealth today than any time in History...

    ..So the issue isn't "What we have" collectively....but rather "Who has what..." Correct me if I'm wrong...but isn't the study of economics about the system as a whole and not "Who has what?"

    ....Again...referencing 1929 is clearly more of an emotional hook than factual support...and once again ignores that Americans today, even those living at so-called "poverty" standards, have access to goods and services unknown mere decades ago..

    I doubt a factory worker in 1929 could afford the same consumer goods as his "masters"... but today, factory workers have big-screen TVs, personal computers, mobile phones and many other things reserved for the very wealthy just 40 years ago (and yes...they ALL existed 40 years ago)...

    So once again, there is nothing "wrong" with the piece..... It's purpose was to push an ideology and the author has done just that...Want proof? Ask yourself this:

    ...Upon reading it, did you LEARN something or did it REINFORCE A FEELING you have?

    ...so there you go..

  • IceT
    Lv 7
    9 years ago

    I am surprised because I always thought that Krugman was much smarter than this opinion piece shows!

    The current recession was caused by the community investment act which was first passed by Carter and which Clinton mad stronger. This act forced banks to ignore the sound lending policies they normally follow so that they could give home loans to people who otherwise could not qualify.

    In 2006 Bush tried to tighten regulations on Fannie and Freddie which would have prevented our current economic situation but for the first time ever Democrats were against more regulations!

    http://m.youtube.com/watch?v=cMnSp4qEXNM

    As for his statement that in 1971 if Nixion had announced that he was for Kensian economics Republicans would have been ok with it is probably correct. But that is because it was before the big Kensian failure that happened on Japan in the 1980's and which is known as the lost decade. They had a recession that was caused by a housing bubble and which they tried to spend their way out of! Instead they got a double dip recession which lasted more than 10 years!

  • LAN
    Lv 7
    9 years ago

    My main argument with him is the premise he bases his assumptions off of. He makes a false assumption that the rich making a larger percentage of wealth keeps poor people poor as if there is only a set amount of money that can be made in this country. Nothing could be further from the truth in a capitalistic society. Every person (depending on their own innate ability) has a chance to create wealth and add value to the economy.

  • ?
    Lv 7
    9 years ago

    Well, he starts out with a faulty premise: That the rich and income differences caused the recession. This is essentially a weak "blame the rich" mentality.

    He accuses the Republicans of being bought by the rich but (laughingly) does not accuse the Democrats.

    Do you honestly believe the Democrats are without fault? especially since they controlled BOTH houses of Congress leading up to the 2008 recession?

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  • Texas Patriot
    Lv 7
    9 years ago

    It's his opinion which is why it's called an opinion piece. My opinion is he is wrong. This is a good example of the class warfare Obama has started. Their goal is to take from those who work hard for what they have and give to those who don't. That's all this is. If it wasn't he would be calling the Democrats out as well. Ask Harry Reid why 70 or so bills submitted by the House are sitting on his desk and why he refuses to bring them up for a vote.

    Source(s): Texas!
  • !
    Lv 6
    9 years ago

    I am in no way an expert in economics, but I have a feeling the problem with distribution of wealth has more to do with finding people willing to work, rather than a greedy 1% hoarding their wealth. If you work with the public you see the dynamic

  • ?
    9 years ago

    Easy enough.

    The basis of his entire rant can be summed up with his assertion that "fiscal responsibility" is fringe extremism. And that is pure stupidity.

    the man has become nothing more than a mindless political hack and has virtually no credibility left among economists.

  • LauraWrites
    Lv 7
    9 years ago

    Disagreeing with someone is human nature, it in no way proves someone is a "sheep." You really think in a world of billions of people, everyone will agree with everything 100%, just because you do? No, we don't all watch Fox News, either.

    The very idea that he would call only one major political party "extremist," proves his own bias and that he is a sheep for his own party.

    BOTH parties got us where we are, as WE DID for electing them.

  • Anonymous
    9 years ago

    Krugman? Really??

    That's almost as bad as posting something by Limbaugh and asking Liberals to take it seriously.

    ------------------------

    I know - I'm so ignorant. Clearly I know nothing other than what Rush and Fox News tell me.

    At least I can compose a grammatically correct sentence.

  • Sin nombre
    Lv 6
    9 years ago

    Yes , Obama and other left wing extremists have caused another depression .

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