Paul Krugman is now calling for “Space Aliens” to attack in order to “fix” the economy.
Probably spent the weekend watching Independence day
Doesn’t he understand the Broken window fallacy? War doesn’t create prosperity – just the opposite – If it did, then Tom Woods has a great solution for our current troubles – no Space Invaders necessary
â€œIf spending on munitions really makes a country wealthy, the United States and Japan should do the following: Each should seek to build the most spectacular naval fleet in history, an enormous armada of gigantic, powerful, technologically advanced ships. The two fleets should then meet in the Pacific. Naturally, since they would want to avoid loss of life that accompanies war, all naval personnel would be evacuated from the ships. At that point the US and Japan would sink each otherâ€™s fleets. Then they would celebrate how much richer they had made themselves by devoting labor, steel, and countless other inputs to the production of things that would wind up at the bottom of the ocean.â€
- Thomas E. Woods Jnr, in Meltdown: A free market look at why the stock market collapsed, the economy tanked, and government bailouts will make things worse. (Page 105).
Maybe he really is living in Wonderland…