Paul Krugman debates Ron Paul on live TV. Ill-advised or not, it is interesting to see their different takes go head to head. I’m not sure either really puts their points across very well, but I was a little surprised to see the vitriol in the comments of the YouTube video against Paul Krugman. Ron Paul clearly has a strong support base.
If you listen carefully, you won’t hear Ron Paul address any of the fundamental economic issues caused by the Gold Standard, you will hear him disagree with Milton Friedman and you will hear him use more emotive please than even Paul Krugman. Krugman, on the other hand, uses a mixture of emotive pleas with overly complex ideas and probably entirely misses his audience.
Simple fact is, a little inflation and currency depreciation would go a long way to fixing the structural problems with the US economy AS WELL as the defiicent-demand cyclical problems.
Watch the video.