Dr Krugman's Magic Dogma

Harry Truman famously complained about his economic advisers, who wouldn't give him  simple, straight answers. "All they say is 'On the one hand this, and on the other hand that,'" he was quoted. "I'm looking for a one-handed economist!" Well, ol' Harry could have found economists who were absolutely cocksure -- and wrong. Take Paul Krugman, the Jeremiah of the new New York Times Agit-Prop page.  Dr K is absolshshtutely, posilutely sure that another trillion bucks of deficit spending will fix the US economy.  Other economists may have their doubts, but Dr K knows the answer in his bones.  Krugman never doubts his own prescriptions, except when he changes his mind, and decides to order more of the same.  If we aren't swallowing enough cod liver oil, double the dose! That'll fix 'em. Other than this curious fixation Dr. K has a marked tendency to rant, and rail, and rage at various folks who take exception to his medicine. This is a suspicious sign. Real...(Read Full Article)

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