I personally consider most of what Krugman writes to be utterly non-sensical. Unfortunately the policies of the Clinton, Bush, and Obama administrations agree w

I personally consider most of what Krugman writes to be utterly non-sensical. Unfortunately the policies of the Clinton, Bush, and Obama administrations agree with Krugman's Keynesian view. This article has been rebutted for the past 10 years by people a lot smarter than me. My favorite rebuttal is David Gordon's 1999 article on Mises.org: http://mises.org/misesreview_detail.aspx?control=53 http://mises.org/misesreview_detail.aspx?control=53 Other notable rebuttals: * http://mises.org/story/105 http://mises.org/story/105 - by Gene Epstein, the original author that Krugman references in Hangover Theory's first sentence * http://mises.org/story/103 http://mises.org/story/103 * http://mises.org/story/630 http://mises.org/story/630