Friday, February 10, 2012

What I Admire About Paul Krugman

From Bloomberg:  Paul Krugman vs. the World
The great Autistian School economist at Marginal Revolution linked to the following Businessweek article detailing how Krugman has managed to entangle a number of esteemed economists into his nasty little personal spats BUT he asked commentors to be nice.

Here are nicest words I could think of for the Krugman:

Krugman is a skilled political propagandist par excellence who has been extremely effective at discrediting the aspects of the last 30 years of work in macroeconomics that would otherwise question some of the assumptions built into his political ideology.


I admire his zealous ability as the NYT’s top defender of the faith to protect his readers from the unsettling economic realities of the modern world — the collapse of Soviet socialism, the economic implosion of the great social welfare democracies of Europe, the failure of the Obama stimulus as measured by the baseline prepared by his own economic team, the ever increasing adoption of free market economics in China and India…

Lesser men raised in an era when the smartest economists at MIT thought the Soviet model was a smashing success succumbed to the brutal onslaught of new evidence, but Krugman held firm. The great Samuelson held out through 1989 when he wrote in his textbook that “the Soviet economy is proof that, contrary to what many skeptics had earlier believed, a socialist command economy can function and even thrive.”
Six years later even Samuelson recanted in the 1995 edition of his textbook, but the Krugman is on a much higher plane of awesomeness and his 1960′s economic worldview remained unscathed, at least as reported in his column.

Could Krugman possibly be the greatest Keynesian fundamentalist of all time, yea even greater than Keynes, blessed be his name, himself? Aye, aye captain. For even Keynes backtracked on his views of large public works style stimulus spending.

Keynes may be the Jesus Christ, the son of Man, and the founder of the cult of government spending but Krugman is like the apostle Paul — the powerful force actually responsible for the dissemination of the religion long after the great teacher has died.

3 comments:

JS said...

Ha, ha. How exactly are you a "liberal" as described in your blog subline?

Mercy Vetsel said...

Classical liberal. In other words, one who believes in liberty. Now it means the opposite.

Classical liberals are now called conservatives or libertarians because the dominant leftists in academia and the media, embarrassed by the ill behavior of the National Socialists, had to go a soil a perfect good word.

Anonymous said...

otherwise known as a totally uninformed american or british fucktard...

---BGI participant, jorge rafael videla