The Economy Doesn’t Need a Babysitter
Dr. Paul Krugman, world renowned winner of the Nobel Laureate in economics, often appeals to babysitting when trying to explain things in his post-Keynesian way. He seems obsessed with the story of the Capitol Hill Babysitting cooperative because he thinks it proves that printing more money is the cure for recessions.
When we look at his own favorite story, we see that it clearly proves the opposite. An economy prospers and can end depressions faster when people are freer, and the “economists” keep their grubby mitts off everything.
Some Bible passages are helpful to understand how Krugman goes off the rails.
2 Kings 7:1-2
Referenced appearances of Daniel Mynyk:
Andrew Rappaport, The Rapp Report, “Economics During Uncertain Times” (April 19, 2020)
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