Quote of the Day
“People on twitter might be joking, but in all seriousness, we would see a bigger boost in spending and hence economic growth if the earthquake had done more damage.”
– Paul Krugman, or his ghostwriter, today.
Presumably Japan had a sufficient quantity of broken windows for Krugman’s liking.
Update: I doubt that Krugman would appreciate the humor, but Michael Ramirez’s latest cartoon dovetails perfectly with his quote.
Update: Allahpundit on the complexities and contradictions of a Timesman:
Update: And here’s the man himself weighing in. It wasn’t his Google+ page. Duly noted, and I apologize for the error. But I hope he addresses the argument in the fake tweet on his blog. If World War II ended the Great Depression, why is it outrageous to think a Keynesian might see an economic boon to a natural calamity?
“If Paul Krugman is wondering how and why so many people–myself included–could have been taken in by the fake Google+ page put up in his name, all he needs to do is to go back over his previous writings,” Pejman Yousefzadeh adds.
Oh Liberal Media! indeed. I love a right winger fooled you so badly. And no apologies or retraction. How lovely.
“If World War II ended the Great Depression, why is it outrageous to think a Keynesian might see an economic boon to a natural calamity?”
“People on twitter might be joking, but in all seriousness, we would see a bigger boost in spending and hence economic growth if the earthquake had done more damage.”
You know, if a little devastation is all it is going to take to get this country back on track, I’m sure we have a few tactical nukes lying around that could be put to better uses in cities than they are right not just taking up space in storage bunkers…with the hurricane evacuations, what time could be better to get a little “creative destruction” stimulus going for the economy? I think it is a plan whose time has come, and my God, I can’t express how much I’m in daily awe of Krugman’s foresight, vision, and perspicacity.
In speed reading, I didn’t see the fake post bit, but I agree with the site host’s take on things. In general, my view is that economists would be better served in understanding economies if they studied fluid flow more and their own political desires less.