If you have "no place to go," come here!

It's called the drooling class because it drools

Oy. Watch for the unsourced and anonymous stuff. That's where they're planting the talking points for future smears.

NOTE The headline is, of course, a riff on Arthur's famous post, It's Called the Ruling Class Because It Rules.

UPDATE Let's just hope Krugman didn't call his shot on magazine covers.

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MABlue's picture
Submitted by MABlue on

I know, I know. Paul Krugman is just having his "15 min" because he hates Obama. But wait!

Here is a spectacular article from 1991:
Three Whiz Kid Economists of the 90's, Pragmatists All
(Ahem! 2 of the 3 vehemently oppose Geithner’s PPPIC plan. We don't really know what the 3rd thinks)

Mr. Krugman, an elegant theorist, has re-written the book on global trade and finance, a field better known for received wisdom than lively innovation. He did so by inventing a theory, based on imperfections in the way markets function, that helps to explain why countries exchange similar goods, why protectionism can sometimes lead to lasting advantages and why a system positioned between completely fixed and freely floating monetary exchange rates can work.

"Paul is to international economics what I.B.M. is to computers," said one admirer.

This is really a remarkable article. Go read it.