Tuesday, July 28, 2009

'The Second Coming of Keynes'

"Paul Krugman wants to be our savior."


"Like a savior, he would perform a miracle for us: that of turning consumption into wealth. But who would accept a messiah with such a John the Baptist as John Maynard Keynes, who proclaimed that credit expansion could perform the 'miracle … of turning a stone into bread'?

In any case, Krugman is a curious kind of savior: one more interested in exercising his brilliance than in actually helping people. In the
Newsweek profile, he said of his policy advocacy,

"I am not overflowing with human compassion. It's more of an intellectual thing."

Indeed, there is something almost calculated in the unblinking wrongheadedness of both Keynes and Krugman. You're not likely to get much notoriety as a public intellectual advocating common sense."

Read the whole thing.

It's a brilliant and thoroughly devastating rebuke to the Klown Prince of "progressive" agenda economics.


1 comment:

  1. Posner had a related Krugman critique, which may be of interest to you.