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113 sats \ 6 replies \ @Undisciplined 8 Dec \ on: Paul Krugman Rides into the Sunset Politics_And_Law
Krugman was a Keynesian, which is bad.
Worse, though, is that he was a completely disingenuous partisan propagandist.
Who could blame him? He was getting paid by the New York Times for writing and they only want their slant on issues published. Their slant seems to be disingenuous partisan propaganda and leftist BS informational view.
I’m not sure in which world he earned a Nobel Prize in Economics, though. Must be clown world.
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His Nobel was actually awarded for really innovative work on trade theory that he did during grad school.
There was a long standing conflict between conventional economic predictions based on comparative advantage and what actually occurs in trade flows. Krugman was the first to offer a plausible explanation for it. Other, more plausible, explanations have been developed since, but his work was a big step in the right direction.
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OK, so he did work as a grad student under a supervising professor who may have suggested his avenue of research. Who was his graduate advisor, in that case? I will have to read about Krugman’s thesis, then.
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I think the tragedy of Krugman isn't just how bad he was, but that he was capable of doing legitimately brilliant work.
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I was just reading something else and found this gem:
Socialism allocates scarcity. Capitalism incentivizes abundance. Always good to remind ourselves of this from time to time.
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Once he got on the NYT gravy train, I guess he saw no reason to get off of it. He must not have had a real urge to further his research. That is really a shame. He was in on the ground floor of the trade theory but left it for the NYT.
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