VIDEO: Ron Paul debates Paul Krugman

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Two polar economic opposites, Ron Paul and Paul Krugman, just faced off on Bloomberg TV.

On Monday, after the market close, Bloomberg Television played host to a much anticipated showdown between Congressman and GOP Presidential candidate Ron Paul and noted Princeton economics professor Paul Krugman. Not only are the two men among America’s leading voices on American economic and fiscal policy, but they also hold diametrically opposed viewpoints.

Enjoy the Keynes vs. Heyek rap for some background on these competing philosophies…

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Ron Paul has been a consistent opponent of runaway federal debt, deficit spending, and Federal Reserve policies. Krugman on the other hand supports Keynesian economic policies and believes that the Fed should continue to engage in more quantitative easing programs to raise the rate of inflation. He also believes that increased government spending is necessary to pull the country out of the current economic malaise.

It’s nice to see that the UK Guardian picked up the event as a live blog.