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Idiot of the Year--Paul Krugman

Started by Travis Retriever, December 29, 2013, 04:52:04 PM

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December 29, 2013, 04:52:04 PM
http://krugman.blogs.nytimes.com/2013/12/28/bitcoin-is-evil/?_r=1&
The title says it all.  I nominate Paul Krugman for not only his past stupidity, but also for this.  The title alone says a lot.  It more or less admits that he's not talking about science, even by my economics professor's (the same guy I made an entire thread on here: https://www.bogosity.tv/forum/index.php?topic=634 ) standards.  Said professor said that economics is a non-normative science.  That it talks of what is, not what should be (esp. morality of a system).  And he tells us that when you get into "which system is better" you're technically talking about sociology.  So even by lax academic standards of a community college, Paul Krugman fucking fails.
"When the mob and the press and the whole world tell you to move, your job is to plant yourself like a tree beside the river of truth, and tell the whole world—'No. You move.'"
-Captain America, Amazing Spider-Man 537
December 29, 2013, 05:06:57 PM #1
Well, yes. At the undergrad level, economics tends towards studying what is, not what ought to be. Depending on the exact type of economics being studied, you may contrast and compare different models; but except for which might be better from a fiscal standpoint, you're not really called on to make value judgments at that level.
December 29, 2013, 05:29:07 PM #2
Quote from: dallen68 on December 29, 2013, 05:06:57 PM
Well, yes. At the undergrad level, economics tends towards studying what is, not what ought to be. Depending on the exact type of economics being studied, you may contrast and compare different models; but except for which might be better from a fiscal standpoint, you're not really called on to make value judgments at that level.
Which makes sense given the talks I've seen between Shane and others, but even then, how it is a part of economics to call a system "evil"?  I'm sorry, but that's in the morality realm of philosophy, not economics.
"When the mob and the press and the whole world tell you to move, your job is to plant yourself like a tree beside the river of truth, and tell the whole world—'No. You move.'"
-Captain America, Amazing Spider-Man 537
December 29, 2013, 05:37:17 PM #3
Quote from: T dog on December 29, 2013, 05:29:07 PM
Which makes sense given the talks I've seen between Shane and others, but even then, how it is a part of economics to call a system "evil"?  I'm sorry, but that's in the morality realm of philosophy, not economics.

The word "evil" should not even come up in an undergrad economics course, particularly if it's the sophomore class that's a requirement for everybody. (I'd say the same for the word "good", but that word has meanings that might be legit in the class) And yes, yes it is.
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