Monday, June 13, 2011

The greatest pundit prognosticator!

1 comment:

Patrick_L said...

pot, meet kettle. kettle, meet pot. I think you have something in common.

The day before Lehman Brothers declared bankruptcy, Luskin in a Washington Post op-ed argued "Anyone who says we're in a recession, or heading into one, especially the worst one since the Great Depression, is making up his own private definition of recession." http://www.washingtonpost.com/wp-dyn/content/article/2008/09/12/AR2008091202415_pf.html

Moving on- let's be clear. Paul Krugman is a brillian economist, particularly in his fields of expertise. There's only so far you can take critiques of Krugman's work, and so when conservatives take it to such extremes, it just makes them look silly and stupid.

Now, his more politicized economic commentary is certainly open to critique. In that way he is much like Milton Friedman, another brilliant economist who frequently wandered into murky water with his policy advice that wasn't based on any solid economics work- let alone his own.