Tuesday, October 23, 2012

Krugman's Big Mistake

Paul Krugman often seems puzzled that his intellectual opponents fail to grasp the wisdom of his Keynesian policies. I think his big mistake is that he thinks that they are interested the same kind of mean and median social good that he is. From the standpoint of the rentiers, austerity can look darn good, at least until the house burns down.

And then they mostly can just move.