The Legend of King Midas according to Paul Krugman

Ed: A wonderful piece regarding a Marxist view of gold as currency in relation to a parable by Paul Krugman. This is part of a larger post that must be read. I highly recommend subscribing to this blog Critique of Crisis Theory. Paul Krugman writes: “The legend of King Midas has been generally misunderstood…. What…

Imaginary Bond Vigilantes

I came across a very interesting piece in “End This Depression Now!” by Paul Krugman where he lays out why the belief that investors will dump a country’s bonds if they lose confidence in that country’s monetary and/or fiscal policies, is untrue. According to the theory fear of budget deficits are driven (primarily) by an…

Did Paul Krugman Admit Exploitation?

It’s wonderful to see a mainstream economics man like Paul Krugman come across a Marxist criticism by accident. I’m not surprised its Krugman who does it, he seems to be a hell of a lot more honest than just about anyone out there in the media. I found this statement in his book End This…