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Monday, October 13, 2008

Kranky Krugman…

posted by on October 13 at 10:56 AM

… won the Nobel prize in economics! (Sharing this year’s winners’ circle with such illustrious creatures as a glowing jellyfish and its “brainbow.”)


To celebrate, let’s savor a few of his observations:

The fundamental fact of American politics—and I’ve sharpened my view on this since last year and the hardcover edition of the book—is that we’ve got an alliance between the religious right and the accumulators of great wealth. Those are the people who are running things.
On the economic policy of the Bush administration: “There is no economic policy. That’s really important to say. The general modus operandi of the Bushies is that they don’t make policies to deal with problems. They use problems to justify things they wanted to do anyway. So there is no policy to deal with the lack of jobs. There really isn’t even a policy to deal with terrorism. It’s all about how can we spin what’s happening out there to do what we want to do.”
The United States in particular and the West in general should be feeling a little embarrassed about all that lecturing we did to the Third World.
On supply-side economics: “The appeal to the intellectually insecure is also more important than it might seem. Because economics touches so much of life, everyone wants to have an opinion. Yet the kind of economics covered in the textbooks is a technical subject that many people find hard to follow. How reassuring, then, to be told that it is all irrelevant—that all you really need to know are a few simple ideas! Quite a few supply-siders have created for themselves a wonderful alternative intellectual history in which John Maynard Keynes was a fraud, Paul Samuelson and even Milton Friedman are fools, and the true line of deep economic thought runs from Adam Smith through obscure turn-of-the-century Austrians straight to them.
It’s time for some straight talk about John McCain. He isn’t a moderate. He’s much less of a maverick than you’d think. And he isn’t the straight talker he claims to be.

Congratulations, you lovey old curmudgeon.

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Congratulations. Maybe he can use the prize money to get a toupee that fits.

Posted by Fnarf | October 13, 2008 11:01 AM

all hail the next secretary of the treasury!

nice politics, sweden.

Posted by max solomon | October 13, 2008 11:02 AM

@1 ... um, Fnarf, I think he might be younger than you.

It's about time we got someone working on Treasury who wasn't a Looter or a Freebooter.

Posted by Will in Seattle | October 13, 2008 11:40 AM

Toupee aside, though... He's kind of a hottie.

Posted by raisedbywolves | October 13, 2008 12:15 PM


check it out today

Gordon Brown of the UK shows all of us we should buy shares in banks get the ownership control and upside not just buy their bad paper.

Very crisp and clear explanation by Krugman.

British Labour party leading the way to better manage the global capitalist system. Gotta love it. With a smarter way to inject liquidity, and they figured it out, and didit, in 5 days.

That's action.
Pres. Obama: take note.

I hail Europe. I denounce, reject and eschew "American exceptionalism."

Unity the world over--

Posted by PC | October 13, 2008 12:16 PM

He's very grumpy. Met him last time he was in Seattle. I know publicity tours suck, but most people can pull it together enough to be civil. He's not winning any nobels for miss congeniality, that's for sure.

Posted by pink_ribbon | October 13, 2008 12:38 PM

@3, he's not, and age doesn't have anything to do with bad toupees. I have all of my hair, though I do make an effort to style it to LOOK like a bad toupee.

Posted by Fnarf | October 13, 2008 12:58 PM

@7 Stop making me envision you as Tucker Carlson.

Posted by Bellevue Ave | October 13, 2008 3:44 PM

That's a low blow, BA. If I had to make the comparison, I'd say I'd look like Tucker if I sat in the digestive system of an angry hippopotamus for a week. And wore a bow tie, which I am not allowed to do.

Posted by Fnarf | October 13, 2008 4:22 PM

I'd totally go straight for him.

Posted by mmm paul | October 15, 2008 12:27 AM

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