Economist challenges Paul Krugman on basic economics

Economist and philosopher Hans Herman Hoppe gives Paul Krugman a very rudimentary challenge on his Keynesian economics of monetary and fiscal stimulus.  In classic Hoppe fashion he suggests that questions be asked of Krugman in a childlike manner.

Really he is just using the Socratic Method of logical deduction through asking a serious of questions in order to arrive at the truth.

“Explain to me how an increase in pieces of paper can possibly make a society richer.  If that were the case explain to me why is there still poverty in the world.  Isn’t every central bank in the world capable of printing as much paper as they want?  And do you then think the society, the world as a whole, would be richer?”

It’s rather entertaining to watch Hoppe point out the absurdity of Krugman’s ideas on economics, as you’ll see in the video:

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