Monday, May 09, 2011

Now Seriously Mr. Krugman

In his NYT Column today Paul Krugman decries the people who go around lecturing the "rest of us" about how public policy should be formed.  Isn't that what Mr. Krugman has been doing for the last twenty or more years?  Or was that someone else?   He suggests that the recession and the war in Iraq and Bush's tax cuts caused our deficit.   Wasn't he the one that was arguing that our puny stimulus was too small and not effective (evidently he believes that if you make a small mistake larger it will get better).

What amused me about Mr. Krugman's rant was, besides his inability to understand that he is one of the people he does not like (or is he really only writing about people who make suggestions that he disagrees with).  At the same time he seems oblivious to writing like Hayek's The Use of Knowledge in Society - which suggests that the individual's knowledge of time and place will always be superior to the centralized knowledge that elites like Mr. Krugman would foist upon us.   Or James Suroweicki's The Wisdom of Crowds  which suggests that knowledge of the many will always be superior to knowledge of the few.

Krugman should be moved to a more proper place in his paper - the funnies.  But then how do you know in the NYT?

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