Paul Krugman Gives Up

[Ballygrl]

I absolutely loved this article, I think it's 1 of the best articles I've ever read, it's long but it's worth the read, it's a thing of beauty, too bad it can't be posted at DU, they need to read this:

http://www.americanthinker.com/2010/08/paul_krugman_gives_up_1.html

August 03, 2010
Paul Krugman Gives Up
By Fred Douglass


A marvelous thing happened over on Paul Krugman's blog at the New York Times last week. Krugman effectively conceded defeat on a range of economic debates. Who defeated him? People who posted comments on his New York Times blog. Mere commenters.

For those who do not know, Paul Krugman is one of the few who still claim that Keynesian progressivism is the answer to America's (and Europe's) problems, not their cause. He repeats that claim many times each month. Amid these repeated expressions of his "progressive" faith, he now also repeatedly expresses grim despair because his progressive policy prescriptions are being accepted less and less in the public square, even by the Obama administration.

Krugman is an academic. He has never run a company. He has never created a job. The closest contact he evidently ever had to "business" was as an adviser to Enron, where (in his own words) he was paid $50,000 to help build Enron's "image."

This, perhaps, explains the dozen or so points that Krugman makes over and over. Here are a few: Obama's stimulus was too small. Debt is good. Austerity is bad. Deflation is coming. Ken Rogoff, Greg Mankiw, Alberto Alesina (all at Harvard), and other serious economic scientists do not understand economics as well as he does. Those who do not agree with him are "mass delusional." And perhaps Krugman's favorite line: "I was right, of course."

Befitting his ideology, Krugman has only one policy to propose, regardless of topic: Transfer more resources from the discipline and dynamism of markets to the inefficiency and cronyism of government.

-Continued at the link-

[BattleHymn]

Nice find, Bally.  I'll be sharing this with a couple of people I work with. 

[Ballygrl]

Nice find, Bally.  I'll be sharing this with a couple of people I work with.

An online friend found it and posted it, the article really needs to get out there.

[Chris_]

I still can't believe Krugman won a Nobel Prize for his drivel.  Proof positive that the NB is politically-driven and has nothing to do with merit or the truth.