posted on Oct, 27 2013 @ 01:41 PM
reply to post by FyreByrd
As the Taliban wing of the economic profession got more and more stronghold of standard macro, I think that many reasonable people and students)
simply retreated into safer territory where the question were smaller and well defined and lots of data.
When this is the kind of diatribe we see coming from him my opinion of his intellectual integrity diminishes.
Krugman spent the better part of the last 6 years telling the country that we should be spending twice as much to get the economy going. That we
should be racking up even more debt. And that anyone who questions the validity of his statements is part of the "Taliban wing" of the economic
He's the guy that says deficits don't matter, debt is an irrelevant metric by which to measure the health of an economy, and that we should have given
even more money to the financial sector and all the irresponsible people that busted during the housing collapse.
He's a loon.
He was actually quoting another writer. It's difficult to tell from the ATS quote but in the original it's very clear. If you read the text again,
you will see that he didn't use the term 'taliban economists'.
However, IMO the term is appropriate, if degrogatory, when being a euphemism for "My way is the only way and YOU SHALL OBEY or die" kind of
fundamentalism in any context.
And yes he is in favor of stimulating the economy rather then starving it. As he says, the debt is not the central issue, employment and revenues
Stop believing the DEBT myth. Or, better yet, learn the facts. Two types of economics, Macro and Micro and you cannot compare the two. Two
different scopes of influence. You cannot equate Governement Debt (MACRO) with personal debt (MICRO).
edit on 27-10-2013 by FyreByrd because:
(no reason given)