When I Agree With Krugman, You Know It’s Weird
Paul Krugman is undoubtedly an intelligent and perceptive man, but I always have a hard time agreeing with him. Part of that is that he’s a DNC supporter who has trouble blaming his own party for ills, but actually will when facts get too hard to face. Also, Dr. Krugman tends to write almost as if his Fiat grants him the right to make claims without backing things up and when something doesn’t work he can fall back into the Keynesian excuse, “We just didn’t spend enough money!” However, in this short column I find Krugman makes some great points and some fair challenges. I still don’t agree with everything he’s writing in this column, but it is worth a read.
If you were shocked by Friday’s job report, if you thought we were doing well and were taken aback by the bad news, you haven’t been paying attention. The fact is, the United States economy has been stuck in a rut for a year and a half
Yet a destructive passivity has overtaken our discourse. Turn on your TV and you’ll see some self-satisfied pundit declaring that nothing much can be done about the economy’s short-run problems (reminder: this “short run” is now in its fourth year), that we should focus on the long run instead.
Read the rest at the New York Times.