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Against Monopoly

defending the right to innovate

Monopoly corrupts. Absolute monopoly corrupts absolutely.





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Paul at Work


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Here's a statement Krugman doesn't want anyone to remember he made. It was posted yesterday by C.J. Maloney at the Liberty and Power blog at the History News Network site.

"To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble."

(Paul Krugman, NY Times, August 2, 2002)

So Krugman was a cheerleader for Gosplanner Comrade Greenspan's bubble blowing. Talk about hackonomics.


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