Recession Economics

I am favorably disposed to any criticism of left-wing economist and political pundit Paul Krugman, so I am pleased to see Dalrymple dissect The Return of Depression Economics and the Crisis of 2008, the recently updated edition of Krugman’s 1999 book, in a new FrontPage Magazine article.

I haven’t read the book myself, but I’ve always thought Krugman a perfect example of how poor judgment can render a clever mind not just useless but even destructive. How can anyone still believe that there is no significant moral or behavioral contributor to speculative bubbles and the recessions they leave in their wake? It’s really all just a matter of government economists failing to pull a lever here or turn a knob there in their daily duty of controlling the world economy? That’s the Krugman view.

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