Here’s another reason to discount the Nobel as being indicative of the brilliance and the common sense of the laureate receiving the prize. Paul Krugman writing in his op-ed column
in the New York Slimes, takes a major swing at conservatives for their support of the “extreme” Right-wing Tea Party movement, as well as at those “evil talk radio show hosts” who are fanning the flames that supposedly egg on Right-wing “extremism”.
Paul Krugman was awarded the Nobel prize in economics because of his thesis, New Trade Theory, which basically envisions a world in which big government(s) plays an even bigger role in “managing” the free market in order to keep it safe from all sorts of evil excesses and bad practices. This is the same Paul Krugman mind you, who uttered the following in another NYT piece, courtesy of CafeHayek
“Although America has higher per capita income than other advanced countries, it turns out that that’s mainly because our rich are much richer. And here’s a radical thought: if the rich get more, that leaves less for everyone else. That statement -which is simply a matter of arithmetic- is guaranteed to bring accusations of ”class warfare.”
[Henrik R. Clausen adds
: “Which is a problem that can be solved, over time, by abandoning the deficit spending and money-printing from the Fed, which is exactly what the Tea Party movement desires.Krugman is on the wrong side of the fence.”]
Simply stunning. So of course Krugman can be then expected to rail against those who wish to diminish the government’s role in the market place, because their agenda goes against everything he’s laid out in his thesis. So grass roots conservatives earn his ire for their refusal to stand by and watch the Obama administration micro manage the US economy into the crapper while becoming more enslaved to the state.
What a dufus. Here’s his screed
against the Tea Party movement and conservative radio, he actually thinks that people are only concerned about the economy, and not about the takeover by the state of the private sector, and big business cronyism with the political elite which, yes includes some Republicans, mainly RINOS, but a hell of a lot of top Democrats as well.
This “cronyism” goes against free market principles, by allowing them to escape the risks inherent in capitalism. They (big business) massage government officials and the bureaucrats and then get “massaged back” when they fail, making the marriage between state and business becomes all the more clear.
That is what people are pissed off about as well, poltical big business cronyism, but “the ferret” doesn’t mention that, nor that the people are pissed off by both parties, just that much more pissed off by the Democrats because they deserve it. They’re supposed be the party that looks out for the “little guy”, while in fact they are more for big business (cronyism that is) than the Republicans. What a ruse and what a dufus of an economist. KGS
Rush puts him in his place:
Not all is lost, here is a quote from the late Milton Friedman:
The basic principles that we believe in are going to stay the same for the next thousand years. That aspect of it will never go out of date. What goes out of date are the particular applications. We still find Adam Smith’s book, Wealth of Nations well worth reading even though it’s published in 1776.