They are all equivalent in that when they are executed by governments, there is no voluntary exchange involved. The only way wealth can be demonstrated to have been created is through voluntary exchange.
Well your characterizations of the two options tell us everything we need to know.
Your “targeted repairs” must be contracted to those who are politically connected. I understand why some people are upset that these crony deals will benefit those connected to Trump and not connected to Clinton. I see crony deals as crony deals, whether they are brokered by Democrats through traditional mechanisms or Republicans through novel mechanisms.
I have no delusions as to Krugman’s superiority in his very narrow area of expertise. Unfortunately for him and his apologists, this is not his in his bailiwick. He may have picked up on some stuff as an undergrad, good for him and his apologists. I also will never hold a candle to Krugman on political hackery and abdication of integrity.
You mean when you unveiled to the world your -interesting- view on money. I forget, do IOUs count in M1 or M2? lol.
I agree that you are unclear.