What have we really learned about economics? What do we know? Beyond “supply and demand”, I don't think we know much. We still have business cycles, recessions, depressions, inflation, and bubbles. I see no real economic progress. We have increased production — but that's Engineering, not economics.
I think “economics” is simply a subset of political science. It is a tool. A tool of political persuasion. Basically: “I want you to do something, and I will toss numbers at you until you behave the way I want you to behave. I cannot control markets, but I can control you.”
Krugman says whatever he needs to say to bend social forces in the direction his masters want them bent. This is not like High Energy Physics where the numbers actually mean something and the experiments can be replicated. Economics? No. No such thing. This is 100% politics. In all cases.
Nice take on economics.
What Krugman does is political.
Economics can make sense. Real economics has been known since Adam Smith's 'Wealth of Nations'. The issue is REAL economics is in conflict with what politicans want people to believe. 'There is no such thing as a free lunch' , which REAL economics teaches is not the 'Free Stuff' politicans want you believe. Politicans and their willing stooges will always push the lies over truth.