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Thursday, July 21, 2011

"Keynes Is Dead." -- USA; "The USA Is Dead." -- Keynes


Of interest: Added, from Krugman:
GOP ignorance on macroeconomics isn’t like GOP ignorance on, say, climate science. In the latter case the bad science comes from a handful of essentially bought and paid for “skeptics”. In the case of macroeconomics, the nonsense is coming from established economists with lots of widely cited papers. Paul Ryan doesn’t have to distill his madness from the scribbling of hacks at Heritage (although he does that too); he can get it over some nice wine from tenured faculty at the University of Chicago.
Of course, here on this blog I regularly glibly connect rightwing macroeconomic illiteracy to rightwing climate change denialism to rightwing creation-pseudoscience to rightwing racist sociobiology to rightwing abstinence-only sex miseducation to rightwing preferences for panics and prohibitions over harm reduction policy models. Respect Krugman though I do, I will continue to make these sorts of connection with the same righteous glee, suspecting that for all the wholesome relentlessness of his critique of their "outlook" Krugman still presumes there is a wider gulf between the oafish occupants of neoliberal economics departments and "bought and paid for 'skeptics'" of the kind who occupy brain-sink tanks like Heritage as a general matter than I for one would be inclined to accept.

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