Thursday, December 12, 2013

Yes, Paul Krugman actually said this.

"Fiat money is backed by men with guns; Bitcoin is not. So why should this thing have any value?"

Here.

3 comments:

NCSDad said...

Was he demonstrating a lack of understanding of what money is, a keen understanding of how money is perceived today or simple cheerleading in his role as political economist for the Dems?

mynym said...

"By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's." --Paul Krugman

NCSDad said...

In case you need a depressant. We seem to be doing it again. Maybe Steve can understand this better than I ...http://marginalrevolution.com/marginalrevolution/2013/12/from-the-comments-negative-t-bill-rates-of-return.html#comments