Nobel Winner Advises Irresponsibility

Paul Krugman won the Nobel Prize for economics this year. He writes econ articles for the NY Times. He says our government needs to be irresponsible.

Irresponsible is his word. He is terribly influential. He is not kidding. He advised this for Japan when they faced similar circumstances some 18 years ago.

The irresponsible are the people setting the policy, these are the people who influence decisions. When I say the problem is lack of freedom and no responsibility, I am referring to the people who are at the commmanding heights. Obama will be heeding Krugmans advice.

The good news is it is rather easy to protect yourself. The bad news is we will all be worse off.

As an aside, Alfred Nobel never funded a prize in economics. That was added later, as the Nobel prize became a political prize.

Bookmark this post --- Email this post