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Interesting article. But the response to pretty much any article asking why economists got something wrong is because economists don't all have aligned interes

Interesting article. But the response to pretty much any article asking why economists got something wrong is because economists don't all have aligned interests. Some work in academia and research various things, some work for banks alongside traders determining how various economic forces affect asset prices, some work for the government and are interested in different outcomes (quality of life versus GDP), etc... Krugman's speciality and topic of his Nobel (memorial) Prize was different than most of the things he comments on nowadays too...

csdvrx 5y ago
> But the response to pretty much any article asking why economists got something wrong is because economists don't all have aligned interests. That's not what I perceived after reading this article: it seems to propose a very different hypothesis: > Krugman wants to be the Rush Limbaugh of the Left. > To Krugman, economics is no longer a quest for understanding, delightful in its capacity to overturn one’s preconceptions. Economics is just a set of debating points to argue for policies that one has adopted for partisan political purposes. ‘Stimulus’ is just marketing to sell Congressmen and voters a package of government spending priorities that are wants for political reasons. It is not a proposition to be explained, understood, taken seriously to its logical limits, or reflective of market failures that should be addressed directly