Submitted by Azizonomics
Krugman, Diocletian & Neofeudalism
The entire economics world is abuzz about the intriguing smackdown between Paul Krugman and Ron Paul on Bloomberg. The Guardian summarises:
Ron Paul said it’s pretentious for anyone to think they know what inflation should be and what the ideal level for the money supply is.
Paul Krugman replied that it’s not pretentious, it’s necessary.