Tuesday, November 22, 2016

William K. Black — Krugman’s Failure to Speak Truth to Power about Austerity

In the first column in this series I explained how Hillary Clinton, during the closing 40 days of her campaign, showcased repeatedly her promise to assault the working class with continuous austerity. I explained that her threat represented economic malpractice – and was insane politics. I showed that the assault on the working class via austerity was such a core belief of the New Democrats that their candidate highlighted that assault even as the polls showed massive, intense rejection of her candidacy by the white working class. I also noted that in this second series in the column I would discuss the failure of her campaign team, and her de facto surrogate, Paul Krugman to speak truth to power about the dual idiocy of her campaign promise to wage continuous war on the working class through austerity forever. 
The broader point is the one made so often and so well by Tom Frank – it is morally wrong, economically illiterate, and politically suicidal for the New Democrats to continue to assault the working class via austerity, “free trade” (sic) deals, and financial deregulation. The only thing worse is to then insult the working class for reacting “badly” to being pummeled for decades by the Party that once defined itself as the party of working people. The New Democrats decided to insult the white working class in response to polls showing that the white working class was enraged at Hillary Clinton. Arrogance and self-blindness are boon companions....
New Economic Perspectives
Krugman’s Failure to Speak Truth to Power about Austerity
William K. Black | Associate Professor of Economics and Law, UMKC

10 comments:

Random said...

Reddit pizzagate (investigations subreddit) has been banned. This is YUUUGE!

http://theduran.com/clinton-cult-sick-twisted-world-spirit-cooking/

Random said...

PLEASE look at this Tom:

https://www.reddit.com/r/The_Donald/comments/5ee6gs/announcement_in_regards_to_todays_shutdown_of/

Random said...

Pls promote the NY times article Tom! Look at this:

https://mobile.twitter.com/BrittPettibone/status/801211855188344832

"They are shutting down the research at the #PizzaGate Sub-Reddit on Reddit today. Apparently, it's been deemed "Fake News". "

Random said...

Why shut down #PizzaGate findings on reddit? If the findings are "fake", then why not alleviate genuine citizen concern with evidence?

Random said...

NY Times article says:

"To combat the fake news tide, Mr. Alefantis has contacted the Federal Bureau of Investigation and the local police, and he has asked Facebook, Twitter, YouTube and Reddit to remove the articles. Yet the misinformation has continued to spread, growing into a theory known as #pizzagate that has traveled to Ireland. At one point, Comet’s staff counted five #pizzagate Twitter posts a minute. As recently as Sunday night, the Twitter message “Don’t let up. #PizzaGate EVERYWHERE” was reposted and liked hundreds of times.

“It’s like trying to shoot a swarm of bees with one gun,” said Bryce Reh, Comet’s general manager, whose wife asked him to leave his job because of the threats and vulgar messages they both have received on their social media accounts."

Right....

Random said...

Mass censorship WTF???

Tom Hickey said...

"Russians."

Tom Hickey said...

The US, UK and EU have decided that the the entirety of RT and Sputnik are "fake news."

Tom Hickey said...

https://sputniknews.com/world/201611231047735433-fake-news-claim-eliminate-free-press/

GLH said...

Only 80 percent believed that the campaign reporting was biased? How could anyone in his right mind have seen any of that "reporting" and not realized that it was biased?