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Nobel Winner Krugman Cites Foundation Trilogy as Inspiration

paullevinson.blogspot.com — works for me - it's the greatest fiction every written...

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  • bradspangler, on 10/14/2008, -0/+5Asimov understood storytelling. Paul Krugman doesn't understand economics. A few days after 9/11, he basically repeated the broken window fallacy:

    http://en.wikipedia.org/wiki/Parable_of_the_broken ...

    ...by asserting that rebuilding the WTC would provide a boost to the economy.

    Quote:
    -----
    [T]he terror attack could even do some economic good. Now, all of a sudden, we need some new office buildings. … Rebuilding will generate at least some increase in business spending. (New York Times, September 14, 2001)
    -----

    By that logic, the more that gets destroyed, the richer we become.

    The thing is, the Nobel prize in economics is not awarded by the real Nobel prize committee. Instead, it's a knock-off awarded by the Swedish central bank. The recipients of Nobel prizes in economics nearly always are economists who have prostituted their integrity in order to act as propagandists for central banks and the plutocratic elite.
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