Posted on 03/03/2021 9:21:48 AM PST by JV3MRC
New York Times economist Paul Krugman attacked capitalism for promoting “too much choice” for American consumers. One pro-market economist wasn’t going to let him get away with it.
Krugman decried in a new op-ed headlined “Too Much Choice is Hurting America” how the American economy has become too complex. Krugman used subprime mortgages, electricity contracts and health insurance as examples of how too many choices have created a “cognitive burden” on America’s poor. Krugman pontificated that “the next time some politician tries to sell a new policy — typically deregulation — by claiming that it will increase choice, be skeptical. Having more options isn’t automatically good, and in America we probably have more choices than we should.” CATO Director of Tax Policy Studies Chris Edwards rebutted Krugman in a one-liner: “I look forward to a Krugman column that proposes how to simplify the government.”
Edwards ripped Krugman for blaming American capitalism while ignoring that government deserves much of the blame for making life more complicated for American consumers.
(Excerpt) Read more at newsbusters.org ...
Krugman pontificated that “the next time some politician tries to sell a new policy — typically deregulation — by claiming that it will increase choice, be skeptical. Having more options isn’t automatically good, and in America we probably have more choices than we should.”
Krugman is echoing Hillary Clinton when she defended the lack of choices in HillaryCare saying that most Americans’ were too busy to gather the information to make informed decisions between alternatives. HillaryCare offered only one set of benefits.
I saw a kid with a shirt that dissed profits. I felt like pointing out that capitalism and democracy go hand-in-hand. Every sale is a vote with dollars. If the seller doesn’t satisfy a demand, they will go out of business. Sellers depend on votes.
Probably because Krugman did not have the pleasure of visiting a grocery store in the Soviet Union circa 1980.
Did the author get his degree in ‘economics’ from a Cracker Jack box??
Krugman, the best contrarian indicator there is. Whatever he says, do the opposite.
Krugman is an idiot. I refuse to read his columns. Doesn’t say much for the Nobel prize in economics.
So, the ("ahem") "poor" are too dumb to make informed choices?
I realize that over the years, Cracker Jack has put some pretty flimsy “prizes” in their merchandise, but even they would not stoop so low as to award an “economics” degree as one of their “prizes”.
Paul Krugman is just an only slightly less agitated victim of hysteria compared to Keith Olbermann.
He can go to Venezuela and experience very few choices.
“Too much choice” translate to: “They ain’t buying my junk!”
Freedom of Choice is what you got
Freedom from Choice is what you want
krudman on Trump’s election: So we are very probably looking at a global recession, with no end in sight.
I would say that the “Cognitive Burden” is demonstrably too much... for Krugman. Nothing he has said or predicted is even worth mentioning. As I always say, if you want the wrong answer, ask Krugman!
Now that RUSH is gone ,these assholes can say anything they want. Nobody disputes it.
Choice is for people who love freedom. It’s not surprising that “economist” Krugman opposes “too much” of it.
Krugman is a schizophrenic who periodically stops taking his medication.
Krugman actually does believe in choice. But only the DC elite are allowed to make those choices.
An old joke, which Krugman would probably not appreciate:
A certain communist country was criticized for having only one TV channel. So viewers had no choice of programming. The country’s leaders finally relented, and added another channel.
Channel 1 broadcasted communist propaganda.
Channel 2 broadcasted just this message: “Turn back to Channel 1.”
Reminds me of my favorite Henry Ford quote:
“If I had asked them what they wanted, they would have said, ‘faster horses’.
Krugman is a mega-moron and has been since I first read someone talking about what he said. Commie economists are much good for anything.
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