Paul Krugman has a one-track mind when it comes to human economics. Having never worked a “real” job or run a business impairs Krugman’s insights into human economics rather than helps him.
In Krugman’s world, taking money from working folks and productive companies and giving it to the government to spend, no matter how poorly, will stimulate the economy. He does not care about the quality of spending by government, only its ever-increasing amount.
Krugman believes that America’s “overhead” should be increased in a time of debt and will make the economy more prosperous. In the private sector, we know these actions lead to ruin and bankruptcy.
Krugman’s idol John Maynard Keynes, when asked the question of how a Keynesian stimulus plan will work out in the long run, answered that “in the long run, we’re all dead.” With that as the end result of the stimulus plan, we are dooming America if we follow it.
Never miss a local story.
Following the economics of Krugman and Keynes, death, taxes and the “elite” will rule, rather than liberty, freedom and prosperity.