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It's mind-boggling to hear Nobel Laureate Paul Krugman whine about how stupid the people around him are. I went and read the transcript from his TV appearance --- I figure I should always keep trying to give him the benefit of the doubt. But I shouldn't be surprised by what I found. Krugman not only makes the stupidest, most ideological statement on the panel, but perhaps the stupidest thing I've heard in the past year --- something no thinking person could possibly believe. "I'm not a big fan of giant multinationals, but the reason they're creating jobs abroad and not here is that -- that's an effect, not a cause. That's because other countries have been more successful at generating recovery. It's because China had an effective fiscal stimulus program and we did not." Can you fucking believe it? The person who makes me feel the most hopeless about our economic future, is not Mitt Romney, not Rick Santorum, not Grover Norquist, not even Sarah Palin. After all, these people are clearly idiots (except Romney, who knew some things once, but abandoned them to win the Republican nomination). The person who makes me feel the most hopeless is Paul Krugman, who clearly is not completely stupid in the technical sense, and yet he believes all sorts of things that no one could possibly believe if one didn't spend one's entire life being blinded by ideology.
David desJardins's profile photo
I don't think Krugman is disingenuous, I think he actually believes, somehow, that the reason that multinationals are moving jobs to China is that the US didn't have a big enough stimulus to recover from its downturn. I don't know any possible argument he could advance to believe that, but I still think he does believe it. It's amazing the things that people can believe when they really, really want to believe them. It's certainly clear that the primary reason many people are so insistent that a bigger stimulus would have been so great is because, well, they wanted a bigger government, before, during, and after the financial crisis.
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