Are there any fact checkers at the New York Times? Since they’ve allowed some glaring mistakes by Paul Krugman (see here and here), I guess the answer is no. But some mistakes are worse than others. Consider a recent column by David Stuckler of Oxford and Sanjay Basu of Stanford. Entitled “How Austerity Kills,” it […] . . . → Read More: Another Example of Editorial-Page Fiction at the New York Times
Political insiders remember Tim Geithner for his role in promoting the bailout culture and crony capitalism in Washington. Comedians remember him for the laughable hypocrisy of urging higher taxes for others while cheating on his own tax return. But I mostly think of him as being the Forrest Gump of international economics. This was the […] . . . → Read More: Following in Geithner’s Footsteps, Treasury Secretary Lew Urges Bad Fiscal Policy in other Nations
Paul Krugman recently tried to declare victory for Keynesian economics over so-called austerity, but all he really accomplished was to show that tax-financed government spending is bad for prosperity. More specifically, he presented a decent case against the European-IMF version of “austerity,” which has produced big tax increases. But what happens if nations adopt the [...] . . . → Read More: Where Are the European Spending Cuts?
President Bush imposed a so-called stimulus plan in 2008 and President Obama imposed an even bigger “stimulus” in 2009. Based upon the economy’s performance over the past five-plus years, those plans didn’t work. Japan has spent the past 20-plus years imposing one Keynesian scheme after another, and the net effect is economic stagnation and record [...] . . . → Read More: Krugton the Invincible…or Krugman the Inadvertent Opponent of Tax Increases?
Statists are in a tough position. For years, they’ve been saying the United States should be more like Europe. And, as shown in these very funny cartoons by Michael Ramirez and Bob Gorrell, President Obama is a cheerleader for that effort. But now Europe’s welfare states are collapsing, so the left is scrambling to come [...] . . . → Read More: Debunking Krugman’s European Austerity Narrative
In a presumably futile effort to change their minds by learning how they think, I periodically try to figure out the left-wing mind. Why, for instance, do some people believe in Keynesian economics, when it is premised on the fanciful notion that you can increase “spending power” by taking money out of the economy’s left [...] . . . → Read More: An Inside Look at Left-Wing Social Science Gun Research