Archive | October 13, 2008

Grade Inflation, Swedish Style

Let me go, you befuddled Keynesian!  I'm a Rothbardian cat!The man who wrote this –

[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)

– thereby flunking the most basic lesson in economics, has just been awarded the Nobel prize in economics.

(Unsurprisingly, Krugman doesn’t understand Austrian business cycle theory either.)

What’s next – a Nobel prize in biology to a creationist?

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