Paul Krugman clarifies his point about temporary versus permanent spending:Tyler's latest on temporary versus permanent government consumption clarifies what the confusion is over my very simple point. I don't think Tyler understands what I (and everybody else) means by government spending. I don't mean the government handing someone a rebate check; I mean the government actually, you know, buying something -- say, building a bridge.
Oh, Megan. Megan, Megan, Megan. What will we do with you? Besides mocking, of couse. No, Megan. Krugman is not clarifying his point. He's clarifying your confusion. Your wrongness. Your lack of right.
How dishonest can a person be?
The omission of the very first part of the post is somewhat telling: "I do not think that word means what Tyler Cowen and Megan McArdle think it means. The word in question is “spending.”
Also: As a lowly MBA, I do not think of spending money to build the bridge as a net increase in the country's wealth. We exchanged money for a bridge worth the money we spent (or so we light-heartedly hope).
Let us imagine a country with absolutely nothing. Now let us imagine a country next door with absolutely nothing but a bridge over a river. Which country is wealthier?
That post needs to be taken apart bit-by-bit.
Remember, these are the people who think "the government" had nothing to do with the creation of the Internet.
(I'm guessing they assume it sprang forth fully formed from the left butt cheek of John Galt while he was encsconced in his mountain hideaway, thinking great thoughts and envisioning mind-boggling visions.)
Ugh. Krugman "claryfied his point" perfectly fine the first time. He is trying to explain it to Megan as if she were a child. It's not dishonesty, it's arrogant stupidity.
RB, that only works if you don't believe that money has its own inherent value. Are you really one of those shrill crackpot lunatics who still thinks that the value of money comes from the fact that it can be exchanged for actual useful things?
I'll bet when Megan broke something as a child she blamed it on the maid.
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