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atemerev

Well, if Nobel Prize laureates in economics don't know what capitalism is, what can be expected from mere millennials?

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Care to elaborate?

Paul Krugman defending broken window fallacy as the most blatant example.

Absolutely spot on. That's one of many examples of why millennials are doomed to economic illiteracy.

link? I find this hard to believe.

http://business.time.com/2011/08/16/paul-krugman-an-alien-in...

https://mises.org/library/broken-window-fallacy

You don't seem to understand Krugman, or perhaps it is the broken window fallacy itself. Krugman is not advocating redirecting spending from one use to another (i.e. buying glass instead of buying bread).

Krugman is advocating increasing budget deficits and printing more money to increase aggregate demand. There is a very obvious increase in the amount of money in circulation in the economy in this case.

Do you know how "printing money" works in the US? And why it doesn't create much inflation? It is impossible to create new money for additional spending from thin air; but it seems that it is possible to bring them from future, specifically, from future taxes (since the government doesn't produce much).

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