why i read paul krugman

As a non-expert of the highest order, I can only follow economics when it’s explained by people who are able to deliver plain English, and make arguments that are both internally consistent and grounded in history.

That pretty much eliminates most ‘conservative experts,’ though truth is, they usually aren’t either.

My favorites are Bruce Bartlett and Paul Krugman. I have no idea if they like/respect each other, but they should, since each is a great popularizer of sane economics.

Krugman is also a wonderful scold, as in this:

Like others, the BIS is clearly engaged in monetary Calvinball, making up rules and concepts on the fly so as to justify monetary tightening whatever the circumstances. There seems to be a deep urge to inflict pain, to purge the rottenness or something.

It’s scary. And the world will suffer for it.

(BIS = Bank For International Settlements)

What I especially like about this is how he returns morality to economics. There are actual people, actually doing things to other people. They have choices. Beats the hell out of hidden hands.


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