5 votes

'Are We Being Unfair to Paul Krugman?' Er, um...no.

THE BEACON
By John C. Goodman • Thursday September 12, 2013

He [Krugman] can, without the slightest evidence of embarrassment, pretend that an entire body of empirical research doesn’t even exist. That’s his choice. However, the New York Times bills him as a Nobel Laureate in economics. So when Hollywood types read Krugman, they think they are reading economics.

This is bad for the entire profession. Krugman rarely writes a column without including a venomous attack on those who disagree with him—questioning their ethics, their honesty, and their motives. But in economics, as in the other sciences, arguments ad hominem aren’t legitimate arguments.

One more bit of deceptiveness from last Friday’s column. Krugman says the solution to the unemployment problem is more stimulus spending and (after what he admits are only back-of-the-envelope calculations) assures us that “we would be a richer nation, with a brighter future.” Okay, everyone is entitled to an opinion. What he doesn’t say (and what readers are surely entitled to know) is that when the Congressional Budget Office estimated the 10-year effects of President Obama’s stimulus proposal it projected the long-run effects would be negative.

It would take a lifetime to sort out all the people Krugman owes an apology to, based on insults slung here and there on the basis of bad information or faulty reasoning. However, I for one would be willing to wipe the slate clean in return for a Jimmy-Swaggart-type-plea-for-forgiveness....

Full Article Link: http://blog.independent.org/2013/09/12/are-we-being-unfair-t...



Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

*Sigh* I love how he bashes

*Sigh*

I love how he bashes Krugman for not bringing up facts, while twisting facts himself. The CBO criticized Obama's stimulus package because of the tax cuts. According to the CBO, down the line, the benefits of labor having more disposable income will be more than offset by the economic damage done by having more debt.

Plan for eliminating the national debt in 10-20 years:

Overview: http://rolexian.wordpress.com/2010/09/12/my-plan-for-reducin...

Specific cuts; defense spending: http://rolexian.wordpress.com/2011/01/03/more-detailed-look-a

I'm glad people like Krugman

I'm glad people like Krugman helped drive the national debt over 17 trillion dollars. An amount that can never be repaid an will be defaulted on.