Paul Krugman – Dishonest Jerk

Paul Krugman is one of the most maddening columnists alive today. He’s an unabashed liberal, which is fine. Except that he constantly denigrates Republicans and conservatives for being deceitful, dishonest and hypocritical. The problem with his criticism is that it is a major case of the pot calling the kettle black.

The following is from a post on The Corner at NRO quoting from a James Taranto piece in the Wall Street Journal which illustrates his most recent utterance of hypocritical blather.

James Taranto has a great take-down of Dr. Krugman today. Apparently the conscience of a liberal is schizophrenic:

Former Enron adviser Paul Krugman takes note in his New York Times column of what he calls “the incredible gap that has opened up between the parties”:

Today, Democrats and Republicans live in different universes, both intellectually and morally.”What Democrats believe,” he says “is what textbook economics says”:

But that’s not how Republicans see it. Here’s what Senator Jon Kyl of Arizona, the second-ranking Republican in the Senate, had to say when defending Mr. Bunning’s position (although not joining his blockade): unemployment relief “doesn’t create new jobs. In fact, if anything, continuing to pay people unemployment compensation is a disincentive for them to seek new work.” Krugman scoffs: “To me, that’s a bizarre point of view—but then, I don’t live in Mr. Kyl’s universe.”

What does textbook economics have to say about this question? Here is a passage from a textbook called “Macroeconomics“:

Public policy designed to help workers who lose their jobs can lead to structural unemployment as an unintended side effect. . . . In other countries, particularly in Europe, benefits are more generous and last longer. The drawback to this generosity is that it reduces a worker’s incentive to quickly find a new job. Generous unemployment benefits in some European countries are widely believed to be one of the main causes of “Eurosclerosis,” the persistent high unemployment that affects a number of European countries.

So it turns out that what Krugman calls Sen. Kyl’s “bizarre point of view” is, in fact, textbook economics. The authors of that textbook are Paul Krugman and Robin Wells. Miss Wells is also known as Mrs. Paul Krugman.

As John Hinderaker points out in this post at Power Line, “…only the existence of Frank Rich prevents Krugman from being the world’s worst columnist”. My only modification would be that Thomas Friedman would also prevent Krugman from holding the title.

More Against the Stimulus

Here’s a Wall Street Journal article by former congressman Dick Armey (who, by the way, has a Ph.D. in economics and was an economics professor before becoming a public servant) regarding the Stimulus and Keynes vs. Hayek. Good stuff…