Kocherlakota vs. Krugman

Mais um artigo interessante do Mises Institute sobre os ciclos económicos.

Think of it this way — even if the economy had been perfectly healthy in the summer of 2008, Austrian economists would have been horrified at the damage of the ensuing policies: the government seized Fannie and Freddie, thereby effectively nationalizing a large portion of the entire US housing market; the Fed nationalized AIG; the treasury secretary told everybody that he needed $700 billion pronto to patch up the financial sector or the world would end; the treasury secretary then proceeded to partially nationalize the US financial sector; the federal government took over two of the Big Three car companies and threw traditional creditor rights out the window; the Fed more than doubled the monetary base in six months' time; the new Obama administration borrowed almost $800 billion to spend on "stimulus"; the federal government has taken a giant leap forward to socialized medicine; and just for kicks, the federal government also banned offshore drilling (though the rules are yet again undergoing revision).

Vale a pena ler o argumentário.