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Bye, Alamoudi
October 23, 2003 | 0 comments
Feature
He Wears Short Shorts
The double world of Paul Krugman.
(Page 2 of 2)
WELL, THERE IS AN understatement. In fact, looking back at the entire Krugman oeuvre, someone familiar with him mainly as a shrill partisan can’t avoid being pleasantly surprised by how sound some of the professor’s work is (or was). The news here isn’t that Krugman’s a clown, but that Krugman is (or was) a reasonably smart ideas guy whose early professional experience was manifest while he served on the staff of President Reagan’s Council of Economic Advisers. They don’t give out the Nobel in economics for nothing. In other words, that’s a real jacket and tie Krugman has on over those shorts.
His 1996 Harvard Business Review essay, for example, dismissed central planning on the basis of the Hayekian idea that knowledge is distributed. “The simple fact is that governments have a terrible track record at judging which industries are likely to be important. At various times governments have been convinced that steel, nuclear power, synthetic fuels, semi-conductor memories, and fifth-generation computers were the wave of the future,” Krugman wrote, sounding like some American Enterprise Institute scholar scoffing at the Obama administration’s plans to subsidize windmills, electric cars, and Solyndra. “Of course, businesses make mistakes, too, but they do not have the extraordinarily low batting average of government because great business leaders have a detailed knowledge of and feel for their industries that nobody—no matter how smart—can have for a system as complex as a national economy.”
In the same essay, which was reissued as a slim book in 2009, Krugman wrote, “a good tax policy obeys the broad principles developed by fiscal experts over the years—for example, neutrality between alternative investments, low marginal rates, and minimal discrimination between current and future consumption.” Low marginal rates! Grover Norquist himself couldn’t have put it better.
“High marginal tax rates can hurt economic growth,” Krugman wrote in a 1998 book, The Accidental Theorist.
In 1997, writing in Slate about the Clinton administration’s commerce secretary, Krugman recommended “avoiding policy initiatives that make it easy for politicians to play favorites.” He wrote, “Some of us cringed when Ron Brown began taking planeloads of businessmen off on sales trips to China and so on. Whether or not those trips did any good….they obviously raised the question of who got to be on the plane—and how.”
As late as the 2007 book Conscience of a Liberal, Krugman allowed that Milton Friedman had “considerable justification” to criticize rent control—a policy beloved by urban liberals—as evil.
Conservatives hoping to counteract the influence of Krugman’s New York Times column could do worse than to transfer the best of these classic Krugman lines onto posters, pamphlets, or T-shirts and distribute them, fully attributed, to the columnist’s left-wing followers.
ONE OF THOSE FOLLOWERS is President Obama, and, alas, it’s not the professor’s instructions about the virtues of low marginal tax rates that the man in the White House has in mind.
The Obama-Krugman relationship, too, is something of a surprise; the Times columnist openly preferred John Edwards and Hillary Clinton to then-Senator Obama in the 2008 Democratic primary.
Yet rereading Conscience of a Liberal in early 2013, the striking thing is how a book written in 2007 served as a roadmap for Obama’s administration. It’s all there, with eerie prescience. Krugman recommended that the next president (he predicted a Democrat would win) start with health care. “Getting universal care should be the key domestic priority for modern liberals. Once they succeed there, they can turn to the broader, more difficult task of reining in American inequality.” How to do that, in Krugman’s view? Roll back the Bush tax cuts on wealthier Americans. President Obama has now followed both instructions.
If the precise nature of Krugman’s influence on the president seems not to be fully appreciated by the American public, it hasn’t been lost on the professor himself. “Does anyone doubt that the White House pays attention to what I write?” Krugman asked in a recent New York Times blog post about why the president should disregard a MoveOn.org petition with more than 200,000 signatories pushing the Princeton professor as Treasury secretary. “An administration job, no matter how senior, would actually reduce my influence.”
Again, it would be comical, except that this is not merely some New York Times columnist and part-time Ivy League professor overly impressed with an inflated view of his own importance. It’s not just about Krugman. It’s about the country. President Obama is actually on track to follow Krugman’s left-wing advice.
What, then, do we have to look forward to?
The bad news is that the rest of Krugman’s policy prescription involves taxing capital gains and dividends as ordinary income and raising rates for those earning $1 million a year or more to between 45 and 49 percent. As if that trebling of tax rates weren’t enough, he also wants a national value-added tax and “a price on emissions, through either a tax or a tradable permit scheme.”
Lest this forecast leave you gloomy, there is an alternative scenario that provides more hope. Maybe the president will stumble upon a 1996 essay by Krugman for the New York Times Magazine. The article imagines the world in the year 2096. It envisions environmental license fees as the main source of government revenue and reports that, “after repeated reductions, the Federal income tax was finally abolished in 2043.” Meanwhile, higher education underwent a crisis after parents and students asked, “Why should a student put herself through four years of college and several years of postgraduate work in order to acquire academic credentials with hardly any monetary value?” The result of the college and university shakeout was that the remaining professors had to support themselves with other jobs. Krugman, who reportedly has two cats with his yoga-instructor economist wife, wrote, “I actually don’t mind my day job in the veterinary clinic.”
He could probably do less harm in a veterinary clinic than he does on the op-ed page of the New York Times, though perhaps I am letting him off too easily by quoting the sole example of self-deprecating humor I found in reviewing hundreds of thousands of words of his writing.
Never mind the Treasury job. Perhaps it’s time for a petition to install Krugman as chief of the FDA’s Center for Veterinary Medicine. He might have to wear trousers to the office. All in favor, say “Meow.”
Letter to the Editor View all comments (46) | Leave a comment
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Cobalt| 2.1.13 @ 6:50AM
Krugman is about as credible as Toure.
spike59| 2.1.13 @ 6:53AM
"They don’t give out the Nobel in economics for nothing."
---------------------------------------
i beg to differ; Paul "we can just print more money-see?" has one
Pecos Pete| 2.1.13 @ 7:23AM
Meow!
TLP| 2.1.13 @ 8:18AM
We're waiting....................................
TLP| 2.1.13 @ 7:41AM
So...Conservatives should be wary of calling this Nobel Prize Laureate an Idiot and a Liar because his Boss is a Nobel Prize Laurete and a Liar and a Piece of Lying Filth?
Au Contraire. Twould seem all the more reason to take him for the Clown that he is.
I would like to thank you for bringing up something that I always bring up when Rat Face Boy is the Subject:
When George Bush was running 100, 200, all the way up to 450 Billion Dollar Defecits, Shitferbrains was pounding the table about the DANGERS of Debt and Defecits. Now, with a fellow follower of Keynes' Economic Principles to Nowhere, in the White House: "Defecits aren't High ENOUGH!" "We're not Spending ENOUGH!"
When Unemployment went UP to 5%, under GWB, it was time to Kill the Captain and Abandon Ship. Now, every bit of bad economic news is schlepped off onto the Last Guy. ( As long as he's a Republican) The guy who's been gone for the last 4 Years.
Like his fellow Shitferbrainser - Thomas always wrong Friedman - I defy anyone to give an example of this Empty Vessel being RIGHT about ANYTHING. He's a regular Arnie vtwin RCV, with a truckload of Purp and Jackass from London thrown if for bad measure.
R Martin| 2.1.13 @ 8:10AM
He's all those things, TLP, but mostly, he's a hypocrite.
TLP| 2.1.13 @ 8:16AM
And, you're late to the Party.
Albert's already there, and he's eating everything.
Tina B| 2.1.13 @ 8:37AM
I love you, Timmy. We've never met, I know, but you can make me smile and laugh like nobody's business.
TLP| 2.1.13 @ 11:06AM
"I love you, Timmy" ain't gonna cut it, Sister.
You still have to enter an Analogy.
You wanna be there when Arnie gets an Abortion, don't ya?
Bob Grant| 2.1.13 @ 7:25PM
"You still have to enter an Analogy."
TLP, you miss a few crucial letters in this sentence and you're back on the banned list.
Warrior| 2.1.13 @ 10:11PM
Arnie technically is an after birth abortion.
Pecos Pete| 2.1.13 @ 9:49AM
I hid the scotch, as a result Colonel Mike might not show up.
Al Adab| 2.1.13 @ 12:11PM
Pete:
You hid the Scotch! Barbarian.
How does anyone think Krugmans' legs compare with Guilfoyles'?
TLP| 2.1.13 @ 2:58PM
Get thee to a Contest, Al Adab.
Mr. Bowman's Column, from Tuesday.
SUBVET| 2.1.13 @ 10:31AM
Tim........are krugman and henry waxman related they look like they could be twins.....anyone see the resemblance and jack yes they both are jewish.
TLP| 2.1.13 @ 11:03AM
I heard that Krugman dresses up like a 12 Year old Hispanic Girl, and Menendez gives him money for stuff that Purp would gladly do for him, for Free.
Anthony| 2.1.13 @ 8:15AM
Nice picture. Looks like Paul the ferret Krugman has put on a few pounds around the middle. The nutty Princetonian professor must be squirriling nuts for a rainy day, which, under Obozo, is everyday.
Oh well, tomorrow is Groundhog day. Krugman and Gore will emerge from their caves and see their shadows.
Puxatawney Al Jezerra will see his and predict six more decades of Anthropogenic Global Warming.
Krugman will see his and predict government spending needs to increase for six more decades. The ferret will then produce the Trillion dollar coins needed for Obozo to continue to produce all those shovel ready jobs.
Allah willing, perhaps we can then take Al and Paul to the local vet to be euthannized.
People that stupid need to be taken out of their misery.
Tina B| 2.1.13 @ 8:45AM
Anthony, I love you too. This ( guys with humor and brains) is why I come here (TAS) every morning with my cuppa Joe. Or tea. Funny bright ladies too, you know who you are, dahlings. Not only if we don't laugh we'll cry kinda thing, but as I know the Lord has a wonderful sense of humor, the laughter you bring out as you make your accurate political points, or play word games with the family here at TAS, even though often crude, is a positive response to the absurdity of life under Obozo. Thank you again, gang.
Quartermaster| 2.1.13 @ 8:25AM
Krugman is either demented or he's an Idiot. That he was given an Nobel is irrelevant, particularly in Economics. In Economics the Nobel is pretty much meaningless. Just look at the "theories" that have won one. It's not a standard of quality in any way.
TLP| 2.1.13 @ 2:59PM
Can't he be Both?
Maxwell| 2.1.13 @ 8:34AM
Just to add one correction, Cruz from the great state of Texas also graduated from Princeton.
When my father graduated from high school at the age of 15 he walked down the street to Princeton University to apply. He was told flat out, no money, no education. With that answer he took a train to Union College in up state New York. Upon arriving at Union he walked into the deans office, said I have no money, do you want academic excellence or money? The dean was so taken back he told dad, go register and have them bill me instead of you. Things were sure better in 1900.
Now, as far as Princeton is today, trust me, the whole town is like Krugman.
Tina B| 2.1.13 @ 8:48AM
Wow, Maxwell. What a great story to have in your family! I trust you pass it on to sons and sons of sons. (or daughters, you know what I mean) since that is what our legacies are made of. God bless.
Maxwell| 2.1.13 @ 9:13AM
Thank you Tina. May He bless us all!
Ryan| 2.1.13 @ 9:02AM
Wanna fix the economy? Do the exact opposite of what Krugman suggests.
cicero| 2.1.13 @ 9:12AM
A read of this column only shows that Krugman is like any other prostitute walking. He loves whoever has the money or power. If the prevailing political trend is conservative, he espouses conservative theory. When the pendulum swings to the left, he champions lestist theory. He is given the repectable cover as a professor at Princeton. What better argument can there by for stopping all taxpayer support for "higher?" education?
These academic frauds have been living high on the entitlement hog for far too long. None of them could make a living in the real world. Perhaps if they had to work at real jobs better suited for their real talents, we woulnd't have to import illegal third world poor to cut our lawns and bus our tables.
Grzmlyk| 2.1.13 @ 4:08PM
I want to know why this evil rich scumbag has a home in St. Croix.
I don't have a home in St. Croix; I can't afford one. Whaaaa!!!! That's not fair!
Clearly, this parasite, sucking the life blood out of the noble proletariat, isn't taxed enough.
Somebody isn't living according to his needs. Someone is engaging in conspicuous consumption.
Funny how the party apparatchiks always wind up with their own luxurious dachas from which resplendent confines they preen with ostentation and admonish us that we should make the same precious fetish of egalitarianism that they fake.
We need to confiscate this palace and make an example of Krugman PRONTO.
Anthony| 2.1.13 @ 4:20PM
I'm with you this Grzmlyk. Double-wide Paul needs an involuntary disinvestment of his assets. And once we've fleeced the bastard, we can send his other asset to the Swanky Gents Bath House for a good ole Obama lesson of leading from behind.
Miles Glorious| 2.1.13 @ 9:31AM
The only two Princeton grads of note are Dick Kazmaier and Cosmo Iacavazzi,and I agree with Cicero
Anthony| 2.1.13 @ 9:49AM
O.K. Having once again viewed the picture of Paul the ferret Krugman, (thanks to Ben Stein for that porn web page hat tip ) I must renege on yesterday's promise to give Arnie my purloined Obozo's Swanky Gents Bath House membership club card.
Seems paunchy Paul could use a good massage and a work out with those muscular boys in Chicago.
Yep, the boys at the Club will just love ya Paul, if you saunter into the club in your Princeton jacket and short shorts. Yum,yum.
sickofit5| 2.1.13 @ 9:56AM
I look at that photo above and I think to myself, "Harry Reid's roommate" and all that implies.
Louis Jenkins| 2.1.13 @ 10:30AM
Yes, but let's consider the utilitirian mode of dress. His hands may play with whatever they want, and nothing gets in the way. The best of all worlds.
Anthony| 2.1.13 @ 11:11AM
O.K. gang, we've had a great time at the expense of Nobel laureate Krugman.
What's the big deal here? After all, if fellow Nobel laureate Emperor Obozo can walk around with no clothes, and the American left is still gaga over the guy, what's the big deal if Krugman walks around Princeton in his underpants?
Look, Princeton is a cutting edge lefty institution of higher learning, we knuckle draggers need to show some respect.
Now, if the inestimable dean of Princeton's African American Studies Program, the gap toothed, afro sporting, Cornel West Ph.D. starts walking around Princeton in a grass skirt with a bone through his nose, THEN Princeton has a bit of an image problem, but we're not there yet.
fmm| 2.1.13 @ 12:38PM
Guess what he wears in private.
TLP| 2.1.13 @ 3:01PM
Pants, and no shirt?
Alabama Yankee| 2.1.13 @ 10:11PM
Cornel West in a grass skirt and a bone through his nose, complete with Afro and gap-tooth! Lawd, that's something I would pay good money to see. It's be more entertaining than standing in the bald-headed guy's row at the girly show, especially if I had my trusty Bic lighter handy.
Must put that on my Bucket-List.
Kurt NY| 2.1.13 @ 1:45PM
I used to find Paul Krugman's columns in The NY Times insightful, interesting, and always worth a read. Even when I disagreed with his recommendations, you have to respect the insight and research. And sometimes he is clearly right.
But once the last election started heating up he's just become an unapologetic shill for the Democratic Party and is no longer interesting in the slightest, as he is now just another propagandist. Shame really.
TLP| 2.1.13 @ 3:02PM
After your first paragraph?
I was sure that your next paragraph was gonna be something about you Quitting Smoking Pot.
Job| 2.1.13 @ 2:27PM
Ron Browns name, in same sentence as airplane...conspiracy comes to mind. Oy vey, what difference does it make, I'm a crackpot, no back talk; i called it.
TLP| 2.1.13 @ 3:04PM
Contest at Mr. Bowman's Tuesday Column.
We could use you.
Anthony| 2.1.13 @ 4:23PM
Hmmm. something's might supicious today.The trolls are MIA.
Paul McGrath| 2.1.13 @ 5:29PM
I suspect he's trying to make a comment about himself by having his photograph taken in front of all of those books. But the sloppy, disorganized way he keeps them says a lot, too.
He's an intellectual slob.
Hardcard| 2.1.13 @ 6:59PM
Krugman is the poster boy for nebisher-putz, hey I grew up in the Bronx.
wombat1| 2.2.13 @ 2:53PM
Dr. Krugman as a veterinarian?
Reminds me of the story about another learned
"scientist" who embarked on an inquiry: how long does it take to teach a horse to live entirely on sawdust instead of hay?
Results were inconclusive: the horses kept dying.
guthriej| 2.3.13 @ 3:09PM
Re Prize: It was for work on trade not fiscal policy, but still....
Dwimby| 2.6.13 @ 1:39PM
“has been race—the ability to win over a subset of white votes by catering, at least implicitly, to their fear of blacks.”
What a racist toad this man is (Krugman). He is part of the gigantic series of problems we have in our very special country, still special in spite of vaporheads like him. Both he and Obama belong in the same pea pod together. They are from the same ideologically empty wellspring. Lenin is in there too. Both these arrogant jive turkeys make trouble at every opportunity. No exceptionalism here! Not an ounce between them. Opportunism - yes. Exceptionalism - no.
Dwimby| 2.6.13 @ 1:47PM
"They don’t give out the Nobel in economics for nothing. In other words, that’s a real jacket and tie Krugman has on over those shorts. "
For God's sake they gave the prize to Obama too. Real brilliance runs in streaks? If so, we are, in fact, doomed...