Krugman: Strong-dollar policies have racial motives

Economics Economics Questions
1

A very well-done article from RealClearPolitics…surprised I didn’t see it sooner:

Paul Krugman Pulls the Race Card from the Deck’s Bottom

By John Tamny

[…] But last week it’s fair to say that Krugman truly stepped over the line. While his droolings are always worth an uneasy laugh combined with horror that some actually take him seriously, his assertion that there’s a racial element behind the drive to achieve a strong, stable dollar was just too much. Krugman should be ashamed, though that ascribes to him a level of self-awareness that he apparently doesn’t possess.

In suggesting that stable-dollar advocates are racists eager to “seek votes from Southerners angered by the end of legal segegration” as a way of returning to “the antebellum era”, Krugman unsheathed the proverbial race card from the deck’s bottom, and this is despicable even by his already gutter-level standards.[…]

Furthermore, DiLorenzo, and Paul are libertarians, and to know libertarians is to know that they viscerally despise the notion of slavery for it violating our basic rights as human beings. Libertarians then take it further in noting that those who enslave others develop within themselves indolent qualities that reduce their own productivity, not to mention that work without reward (something lost on Krugman given his support for nosebleed rates of taxation) always leads to reduced output. To ascribe racism to libertarians is to reveal an impressive misunderstanding of the philosophy. [full story]

2

OK, let’s stop a minute. Did they really award a Nobel Prize to this chap? Really? What? You also tell me they gave one each to Al Gore and to Barack Obama, both for Peace? I bet Friedrich Hayek, Albert Schweitzer and Linus Pauling are all rolling in their graves. I thought the Nobel Prize was awarded to the best and brightest in each field not to crooks with good connections…

3

The Nobel in Economics is not an original Nobel, but one given away by the central bank of Sweden.

4

Those Wacky Swedes

(It’s not really a Nobel Prize)

5

Krugman is not really an economist, for that matter.

6

“All humans have the right to own the fruits of their labor and any expropriation of their labor by another is exploitative and coercive!” = Run of the mill libertarian.

“You’re in favor of slavery.” - Krugman.

Ok, so he only implied that gold-standard advocates were racist and not in favor of slavery, but he insinuated enough about returning to the “antebellum era.”