Niall Ferguson flogs the shit out of Krugman:
http://www.forbes.com/sites/ralphbenko/2013/10/21/much-bigger-than-the-shutdown-niall-fergusons-public-flogging-of-paul-krugman/
Topic: Paul krugman (Read 1241 times)
Krugman's whole world depends on having an inflatable currency. Without that Keynesian economics, which he is a proud advocate of, becomes a lot more difficult. Why such venom for bitcoin I don't understand, but he really hates it.
CONTROL! Bottom line. The guy loves him tons of central control. I laugh at people like him because they want to set the rules for other people, but not have to live by it.
The man like hates himself if he cannot be right.. has BTC angered him so much he is the one going around buying up old accounts to spread FUD to prove his predicition.. delayed but correct?
He is a liberal hack who loves him some more government. He would be the LAST person I would take advice from.
Krugman's whole world depends on having an inflatable currency. Without that Keynesian economics, which he is a proud advocate of, becomes a lot more difficult. Why such venom for bitcoin I don't understand, but he really hates it.
I'd debate ANY "nobel prize" in the past 50 years is BS.
Al Gore winning... pathetic.
The man like hates himself if he cannot be right.. has BTC angered him so much he is the one going around buying up old accounts to spread FUD to prove his predicition.. delayed but correct?
What gets me about the Krugman is even in the field of mainstream economics the utility of bitcoin should be apparent.
FED research papers commonly refer to fiat money as a historic "technical invention".
Originally I thought it was absurd to refer to fiat as a technology, but over time it started to make sense. Bitcoin people talk about money as a ledger, and if you compare central bank fiat to physical gold, then in many ways it is easier to transact in fiat and fiat does function as a better ledger. Fiat's core failing is there is no limit on that ledger similar to the limit gold has, but the ability to transact in the "fiat ledger" is much easier than in the "physical gold ledger". From that perspective fiat is superior to gold.
So if mainstream economists see fiat money as a "technical invention" that has more utility over gold by being a ledger that is easier to transact in, then they should be able to see bitcoin as a superior "technical invention" since it has more utility over fiat by being a ledger that is even more easier to transact in (i.e. programmable money).
The fact that mainstream economists like Krugman don't, makes me believe that either: a) they are ignoramus who don't understand their own field or b) are paid shills.
The man like hates himself if he cannot be right.. has BTC angered him so much he is the one going around buying up old accounts to spread FUD to prove his predicition.. delayed but correct?
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