The Uselessness of Paul Krugman

Pajamas MEdia ^ | Sept. 16 | Tristan Yates

[AJKauf]

There’s nothing liberals love more than apologizing for the misdeeds of others. Recently in the New York Times Magazine, Paul Krugman took it to an extreme with his 6,670-word article titled “How Did Economists Get It So Wrong?”.

Don’t bother reading it. It’s clear that he still doesn’t get it and definitely isn’t looking for any real answers.

Just the length of the piece is comical. We imagine poor Paul gazing out the window of his New York Times office searching for just one more quote, one more study, one more insight to help redeem his profession and his reputation in the wake of the greatest financial crisis since the Great Depression.

Because in Krugman’s ivory tower and on the Times editorial board, economics still matters and no debate about stimulus packages or health care plans or financial regulation would be complete without his unique and important insights. He’s too big to fail and worth every word. And who could edit him anyway? He won a Nobel Prize.

Over here in reality, most of us already know that he and those that follow in his footsteps have no reputation to salvage. ...

[Da Coyote]

Earth to Krugmman. “Progresssive” economists (an Oxymoron if there ever was one) got it wrong.

Real economists didn’t.

In the engineering world, we think of it as a battery that’s giving current, but not getting charged. There is an end.

Too bad your half of the economic shelf is bare.

[Texican72]

He won a Nobel Prize.

So did Yasser Arafat.

[tet68]

In the engineering world, we think of it as a battery that’s giving current,

The only happy battery is a dead battery.

[resistance]

Don’t forget big Al, the inventor of the internet.

[genghis]

The best critique of this monstrousity is by John Cochrane

here is a link

http://modeledbehavior.com/2009/09/11/john-cochrane-responds-to-paul-krugman-full-text/

[50mm]

Great article! It exposes the idiocy and hypocrisy of leftist economics.

Thanks for posting it!