Foremost among them: the notion that government spending on the poor is the reason for economic problemsSalon
Paul Krugman: “Seriously bad ideas” have staying power because they appeal to the prejudices of the economic elite
Scott Eric Kaufman
Sunday, June 14, 2015
Scott Eric Kaufman — Paul Krugman: “Seriously bad ideas” have staying power because they appeal to the prejudices of the economic elite
Paul Krugman: “Seriously bad ideas” have staying power because they appeal to the prejudices of the economic elite
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"New York Times columnist Paul Krugman argued on Friday that “seriously bad ideas…have a life of their own” and “rule our world” because they “appeal to the prejudices of Very Serious People.” "
My irony meter just exploded.
Reminiscent of Tom Lehrer's comment that "Political satire became obsolete when Henry Kissinger was awarded the Nobel Peace Prize." How do you top that? How do you top Krugman?
I recently saw a video of Krugman cutting short someone referring to endogenous money. He snapped at the questioner: "Banks don't create money. They just don't." And then he moved on to dispel other alleged economic myths. The famous seventies MITers have not advanced beyond Stanley Fischer's classes.
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