Paul Krugman To Ron Paul: "You're Living In A World That Was 150 Years Ago" (VIDEO)
Econ nerds, eat your hearts out.
Paul Krugman and Ron Paul just got into it on Bloomberg TV over whose monetary policy views are more dated. Paul struck first, calling the idea that the Federal Reserve could effectively determine what the proper interest rate should be "presumptuous." Then Krugman essentially accused him of living in a fantasy universe.
"You can't leave the government out of monetary policy," Krugman said during the not-quite-epic debate billed as "Paul vs. Paul." "If you think that you can avoid that you're living in the world that was 150 years ago." ...