[updates below]
Paul Krugman gives it the thumbs up, so I do too. I’ve said it once and will say it again: when it comes to economic policy I let my man Paul Krugman do the thinking for me. He’s smarter than I am and we’re on the same page politically and economically, so why waste time reading other, contrary viewpoints?
UPDATE: John Judis says that “Barack Obama gave the best speech of his presidency” last night, and that it was an “angry, direct, and eloquent defense of government.” Good. About time he came out swinging.
2nd UPDATE: Dean Baker has an analysis of the Obama jobs plan. He says there are things in it to love, and things to hate. (September 15)
Why would you ever read a contrary viewpoint? After all, Krugman is never wrong. He wasn’t wrong on Enron when he served as its economic adviser and wasn’t wrong on Obama’s first stimulus. How did that work out for you? If the man knew anything, he’d be working in the private sector. You need to expand your reading list. He is considered to be a crackpot by virtually every private economist in the country, and I’m being nice about what they say about him. The man is joke and if you think Obama swayed voters last night, you are really out of touch with what is going on in the U.S.
Dear “so-called friend” (did I ever call you a friend? I doubt it): Do *you* read contrary viewpoints—i.e. from the liberal-left—on economics (or on anything)? Do you read Krugman (as opposed to reading about him on right-wing web sites)? One thing we know about Krugman is that he drives the right crazy. It was reported in 2004 or thereabouts that his NYT columns seriously got under the skin of the Bush White House (just as they do at the Obama White House). This would have naturally not been the case if he were considered a crackpot by other economists (what alternative reality do you live in to make such a crackpot assertion?). One does not pay attention to people one considers to be cranks or crackpots. When Krugman speaks, people stand up and take notice, left, center, and right. And that includes you obviously.
Touché, Arun!