Paul Krugman Was


Jay B Gaskill

When Paul Krugman delivers unpleasant truths, he uses his redistributionist ideological predispositions as camouflage.

Compare his three recent New York Times columns: Monday, December 4, “Send in the Clueless”, Friday, December 8, “All the GOP’s Gekkos” and Monday, December 12, 2011, “Depression and Democracy”.

Last Monday: Paul Krugman opined that “2012 should be a year of Republican triumph.” Then he added that “The larger point, however, is that whoever finally gets the Republican nomination will be a deeply flawed candidate. And these flaws won’t be an accident, the result of bad luck regarding who chose to make a run this time around; the fact that the party is committed to demonstrably false beliefs means that only fakers or the befuddled can get through the selection process.” Then, referring to “… the proverbial tale of the dog who had better not catch that car he’s chasing” Krugman added “If the [GOP] dog actually catches the car — the actual job of running the U.S. government — it will have no idea what to do…”

On Friday he wrote that “The truth is that what’s good for the 1 percent, or even better the 0.1 percent, isn’t necessarily good for the rest of America — and Mr. Romney’s career illustrates that point perfectly. There’s no need, and no reason, to hate Mr. Romney and others like him. We do, however, need to get such people paying more in taxes.”

On the following Monday, December 12th, Krugman opined, “It’s time to start calling the current situation what it is: a depression. True, it’s not a full replay of the Great Depression, but that’s cold comfort.” The piece was mostly about Europe, put pointedly Dr. Krugman did not omit the USA.

The New York Times’ Paul Krugman was an economist.  But because we define ourselves by or most public acts, Krugman is a polemic columnist.

Decoding these three columns is easy enough.  On the first Monday of December, Paul Krugman was telling us that the GOP will take the presidency; on Friday he told us that he hopes the nominee will tax the 1% more, and on the following Monday (today as I wrote this) he predicts a world-wide depression.

The New York Times columnist Paul Krugman is a real world Ellsworth Toohey* endowed with well-earned credentials in traditional economic theories at a moment in history when the core assumptions of those theories –that Keynesian economics could painlessly and safely fund the redistributionist policies of the progressive left forever without any painful reckoning – have been fully discredited by events.

What Paul Krugman is not telling us is that Mr. Obama was the first dog to catch the car.


*If the literary reference escapes you, ask any well-read libertarian friend.

Copyright 2011 by Jay B Gaskill, Attorney at Law

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