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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Paul Smith who wrote (147929)	10/23/2010 9:31:19 AM
From: Steve Lokness	Read Replies (1) \| Respond to of 543026

I'm not sure it is accurate to label him as an economist. By his own admission he hasn't done any real thinking about economics in a long time. I believe he is trying to salvage his economic theories reputation. That's to be expected I guess. What is frustrating to me is that Krugmans ideas are fairy tale ideas. He wants to bet that we can get back to bubble economics without having a bubble. Common sense says that just isn't going to happen. Japans trouble was never that they didn't stimulate enough, it was that they grew a bobble too big to maintain. Property at a million dollars a square meter? Does Krugman really think it would be in Japans interest to get back to those days? Where does it go? 2 million a square meter?

To: Paul Smith who wrote (147929)	10/27/2010 2:06:02 PM
From: Cogito	Respond to of 543026

>>Another thing, I'm not sure it is accurate to label him as an economist. He was once an economist but he is now a political editorial writer. I don't mean that as an insult because there is nothing wrong with being a political writer, but calling him an economist because he once was one is like continually calling Howard Dean a doctor even though he has not been a doctor for many years. At some point the word "former" seems appropriate.<< Hoard Dean is called Doctor because he has met the requirement for becoming one. Having earned the title, how he chooses to spend his time is immaterial. Similarly, Krugman has earned an advanced degree in economics and has made contributions to the field that were significant enough to earn the Nobel Prize. None of that means he is right all the time, of course, but it does mean that calling him an economist is completely appropriate. He has a body of knowledge that non-economists lack.