Bashing Paul Krugman

I’ve been having difficulty coming up with an idea for a post but one can always fall back to bashing Paul Krugman.  While it’s fair game to disagree with someone I prefer not to put him down. I can’t resist this one.  The guy generates so many words he must have a DBS degree.  (The D stands for doctor.)

There are four areas of disagreement.

First, the stimulus and money creation policies he promotes  were what was needed in the 1930s but are probably not right for current circumstances.  Both of these have been tried and appear not to be working.

Second, if the underlying problem is with the resource base, then increasing economic activity is going to make things worse and possibly bring forward the date of a major economic collapse.

My third concern is that even if we have the resources to prepare for an alien invasion, is that really what we want to do with our time and resources. There are so many things to do in arts, music, crafts and social fields that some of us would find more rewarding.  Also I think each individual  should decide for him/herself what to do rather than have to do what some economist decrees.

A fourth concern is that inflation which he also promotes is a form of theft.

On the other hand Krugman does have some uses.  He gives us something to think about and he has helped me come up with a post for this weblog.

 

If you liked this post your are invited to comment, press the like button and/or click  one of the share buttons. If you disagree you are invited to say why in a comment.  While I like the idea of sharing this platform, my personality is such that I don’t reply to many comments.

Promoting economic growth

This post is in reaction to two articles in this week’s Economist..

The first article shows how the insurance industry is using digitization to sell more insurance to those who need it the least.  The second article talks about digitization as a factor of economic growth.

Perhaps the real issue for the second article is how digitization can be used so the marketing people can con us into working our butts of so we can purchase more goods and service we don’t really need for the sake of economic growth.

What we really need is some way of evaluating things such as music, arts, crafts, exercise and meditation so they can be included in gross national product.  They could then  become the growth industries of the future.

 

The two worst things to happen to music

This guy is not a musician and only a small scale listener.  However having married into a family of musicians dynamics have required that I attend a number of musical events, some of which I have enjoyed more than others.

I have decided the two worse things to happen to music were the invention of the amplifier with 13 buttons for louder and copyright legislation.

We used to have as a neighbor a retired music professor who said, “If you can’t play it well, then play it loudly.”  Unfortunately he retired before the current crop of musicians took their training.

If we didn’t have copyright then all the money which currently goes to the superstars and the record companies would be available  to support all those professional quality musicians who currently work in other fields.  Young musicians would focus on learning to play or sing well rather than chase the almost impossible dream of becoming a superstar.   They may not earn great livings but they would probably survive and we as music consumers would enjoy the intimacy of live performances in small venues

%d bloggers like this: