Tuesday, January 29, 2013

Not Krugman Against the World but Noneconomists vs. Economists

     Joe Wiesenthal provides a list of 11 economists who don't think the deficit is the number one public menace.

     For previous piece about Scarborough's misinformed comments see here

    "The article says: Paul Krugman favors running deeper deficits, but folks like the chief of the Council on Foreign Relations, Erskine Bowles, Scarborough himself, Mika Brzezinski, Steven Rattner, and former Joint Chief chairman Michael Mullen all disagree with Krugman."

     "Note that zero of the above people are "economists" let alone mainstream economists.
But actually there are plenty of economists and economically-literate minds who think that, to varying degrees, the deficit is not what we should be worrying about."

     "For Joe Scarborough's sake, here's a list of people. With each we've linked to comments they've made about their (lack of) worry about the deficit."
     "Anyway, that was just a partial list, but one that covers conservatives, liberals, Wall Street economists, and former government officials."

     "Note that several of them, including Paul Krugman himself, do acknowledge long-term issues arising from health care costs, so even the idea that Krugman wants to do nothing is a falsehood.
The issue is not as one-sided as Scarborough believes."

        It turns out it's not Krugman against the world but noneconomists vs. economists. When Scarborough talks about conventional opinion it refers to the opinion of people who are not economists.

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