Once upon a time, we thought that winning a Nobel prize meant something. Paul Krugman won a Nobel prize for economics. It turns out that his Nobel prize is no more descriptive of excellence than was the Nobel peace prize given to Barack Obama, voted even before he took office in January 2009.
Krugman once declared that the ghastly 9/11 attacks might be good for the economy. This false Keynesian thinking is called the broken window theory explained in the following video:
Paul Krugman's regular lunacy (published as a New York Times commentator and Obama Administration supporter, if not advisor) is routinely refuted (refudiated?) in the Krugman in Wonderland Blog.
If you enjoy economics, check out Paul Murphy's latest at the Mises Institute.
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