Bloomberg TV had a fascinating interview face-off with economist and New York Times writer Paul Krugman vs Republican presidential candidate Ron Paul. I've listed the ways they disagree. Which one do you more closely identify with?
I like to learn from both Paul Krugman and Ron Paul. That's why I particularly liked the interview shown below. First, though, here's the list of items they talked about:
Below is a video of the full interview.
I think they both did a great job representing their own views. I, however, identify more closely with what Ron Paul stands for. What's your opinion?
I like to learn from both Paul Krugman and Ron Paul. That's why I particularly liked the interview shown below. First, though, here's the list of items they talked about:
Ron Paul | Paul Krugman |
Supports a small federal government. | Supports a big federal government. |
Free markets working in a natural way with minimal regulation. | Likes free market but supports substantial regulation of it. |
Governments are not supposed to run the economy. | You can't leave the government out of monetary policy. The Central bank will always be in business of managing the money. |
Government manipulation of the economy causes great fluctuations. | An unmanaged economy is subject to great fluctuations |
The Great Depression was caused by Federal Reserve. | The Great Depression was a result of a free market economy run amok. |
Inflation is theft from people who are trying to save money. | A little bit of inflation is healthy. |
After World War II, the economy improved due to a return to freer market principles. | After World War II growth the US economy money management, including mild inflation and strong government regulation. |
Ron likes some of the principles Milton Friedman stands for, dislikes others. | Krugman thinks Milton Friedman would be on the left of the political debate today. |
Wants to end the monopoly on money that the Federal Reserve has. | Thinks the Federal Reserve does a great job managing the US economy. |
Believes in the viability and healthiness of a gold standard. | Thinks the gold standard is outdated. |
Thinks the Federal Reserve was the primary cause of the 2009 Great Recession. | Thinks private individuals were the primary cause of the 2009 Great Recession. |
Thinks an economic catastrophe could happen at any time with our level of debt, particularly because other countries have less trust and respect for our dollar. | Thinks US is nowhere near an economic catastrophe with our level of debt. |
Federal Reserve and Central banks are ideas that came about in the modern era | The idea of central money management has always been a good idea. |
Below is a video of the full interview.
I think they both did a great job representing their own views. I, however, identify more closely with what Ron Paul stands for. What's your opinion?
Comments
Post a Comment
Thank you for commenting. If you have a Google/Blogger account, to be apprised of ongoing comment activity on this article, please click the "Subscribe" link below.