Other Schools of Thought

As it turns out, Krugman's apologists shouldn't demand more context for his notorious quotes, since it only shines even more light on how confused and backward he is as an economist.

Llosa takes a critical look at the cultural and political institutions that have stood in the way of liberal reforms or distorted reforms for private gain.

The Keynesians have no leg to stand on.

The community of soft-currency countries is not a community of economic conditions but a community of lax monetary and fiscal policies, a community of ignorance about monetary theory, of inexperience with monetary policy, and of political doctrinaire stubbornness.

In Krugman's world, prosperity is created by spending, and it does not matter who spends what on whom just as long as someone is spending.

And if we must have government, let it remain small and insignificant, spending its time cutting ribbons and bickering over nonsense like the color of street signs. Let the rest of us enjoy the freedom to pursue our own happiness.

The reversion in this century to ever-greater statism threatens to plunge us back to the barbarism of the ancient past.

The downturn might eventually end, but with ever more regulations imposed on the system, we might find ourselves never again living in a vibrant and prosperous society.

The State is the group within society that claims for itself the exclusive right to rule everyone under a special set of laws that permit it to do to others what everyone else is rightly prohibited from doing, namely aggressing against person and property.

Remove all government impediments to effective entrepreneurial planning: avoid protectionist measures internationally; allow prices and wages to adjust as needed to restore market equilibrium. Not only cut tax rates, as was done in the incomplete reforms of the 1980s and early in this century, but, per Rothbard, drastically reduce the government budget, both taxes and expenditures.