Ron Paul Debates Arch-Statist Paul Krugman

Chris | InformationLiberation
May. 01, 2012

Finally an Austrian gets to debate arch-statist Paul Krugman. Ron successfully shows Krugman to be a complete idiot (not that we need any more evidence).

First, he owns his "Austrians want to go backwards in monetary policy by 150 years" quip by pointing out inflationists want to go back 1000-2000 years to the inflationary policies of the Roman & Greek empires. (See: The Decline and Fall of the Roman Denarius)

Second, he points out gold should be legal currency rather than forbidden by threats of jail, Krugman moronically says there is no prohibition on using gold as a currency, despite legal tender laws explicitly stating nothing other than the US dollar can be used as a currency, and despite gold facing oppressive capital gains taxes which ruin it's value as an inflation hedge/alternative currency. Krugman laughs at the idea government laws are backed by the barrel of a gun, I guess he thinks people follow the government's idiotic regulations because imbued in the pens of the legislature is the ability to magically change everyone's behaviour through the stroke of a pen. (See: The Gun in the Room)

See our archives for some of Krugman's greatest hits.