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The Madness of Redistribution: Why Paul Krugman is Wrong (Again)

At the end of the classic film, "The Bridge Over the River Kwai," the prison camp's doctor surveys the scenes of death and destruction surrounding him. He sums up the imponderable moral irony of the British helping the Japanese build a bridge only to blow it up as a military necessity, and exclaims, "Madness! Madness!"

Abbreviated pundit round-up: Political mayhem at CPAC, the Fed's most brazen bank hand-out

Paul Krugman at The New York Times writes about a recent upending of conventional wisdom in Liberty, Equality, Efficiency: It’s widely known that income inequality varies a great deal among advanced countries. In particular, disposable...Show More Summary

Paul Krugman: Liberty, Equality, Efficiency

Reducing inequality "would probably increase, not reduce, economic growth": Liberty, Equality, Efficiency, by Paul Krugman, Commentary, NY Times: Most people, if pressed on the subject, would probably agree that extreme income inequality is a bad thing... But what can be...

Growth and Inequality: The United States and France

Paul Krugman takes up the new paper from the IMF showing that redistributive measures do not appear to negatively impact growth. He offers a qualified maybe, noting that growth in the U.S. has outpaced growth in France in the last three decades. Show More Summary

Things I Saw Around The Intertubes Today

(Credit: The_April) Darell Issa apologized to Elijah Cummings. Awww. Paul Krugman says that Paul Ryan is a lying sack o'shit. Okay, not exactly, but close. Just wondering if Obama has ever taken a vacation that didn't result in much conservative wailing and gnashing of teeth... Notre Dame tennis player Matt Dooley comes out as gay. Show More Summary

Abbreviated pundit roundup: GOP's poor approach to poverty, Ukraine, and more

Paul Krugman on the House Republican approach to poverty: Hypocrisy is the tribute vice pays to virtue. So when you see something like the current scramble by Republicans to declare their deep concern for America’s poor, it’s a good sign, indicating a positive change in social norms. Show More Summary

Paul Krugman: The Hammock Fallacy

We don't do enough to help people escape poverty: The Hammock Fallacy, by Paul Krugman, Commentary, NY Times: Hypocrisy is the tribute vice pays to virtue. So when you see something like the current scramble by Republicans to declare their...

Krugman slides deeper into old Keynesianism

(March 6, 2014 09:30 PM, by Scott Sumner) Those of us who liked the 1990s vintage Paul Krugman have been able to hold on to a few stands of hope. At least he still supports free trade. At least he only applies the old Keynesian model to the... (0 COMMENTS)

Paul Krugman's Paul Ryan Watch...

Over at [Loyal to the Group of Seventeen:]( : Paul Krugman's Paul Ryan Watch: Let Them Eat Dignity: “Paul Ryan’s performance at CPAC… [is] awesome, in the worst way…. >The caricature of Ryan...Show More Summary

Paul Krugman Moves Down the Academic Food Chain from Princeton to CUNY

In a surprising move, Nobel laureate Paul Krugman announced in his New York Times blog last week that he is moving his academic home from Princeton University to the City University of New York (CUNY) in 2015. Though the two campuses are physically separated by less than 100 miles, the prestige and reputation gap between the two is enormous. Show More Summary

The Global Economy Is Not Looking Too Great Right Now

I post here periodically about declining European inflation and rising European unemployment, and today Paul Krugman draws our attention to an IMF blog post about the threat of actual deflation in Europe. The bottom line is that there's...Show More Summary

'The Real Poverty Trap'

Paul Krugman: The Real Poverty Trap: Earlier I noted that the new Ryan poverty report makes some big claims about the poverty trap, and cites a lot of research — but the research doesn’t actually support the claims. It occurs...

Over at Equitable Growth: Thomas Frank Doesn’t Want to Be Lectured by Paul Krugman or Joe Stiglitz Anymore

Over at Equitable Growth: Thomas Frank on How he Doesn’t Want to Be Lectured by Paul Krugman or Joe Stiglitz Anymore: DeLong/Equitable Growth Smackdown Watch: >Thomas Frank: Paul Krugman won’t save us: “When President Obama declared in December that gross inequality is the ‘defining challenge of our time’, he was right, and resoundingly so…. Show More Summary

Krugman Gets Informed, Changes His Tune On TPP

last monthIndustries / Law : Techdirt

Late last year, we were dismayed by a Paul Krugman opinion piece in the NY Times in which he judged the TPP based on how it might impact free trade, saying he didn't understand why people were so upset about it. After lots of peopleShow More Summary

Paul Krugman: The Inflation Obsession

Why has the Fed been so concerned about inflation? The Inflation Obsession, by Paul Krugman, Commentary, NY Times: Recently the Federal Reserve released transcripts of its monetary policy meetings during the fateful year of 2008. And boy, are they discouraging...

How Paul Krugman Made Me Afraid of the Government Debt

(March 2, 2014 11:42 PM, by James Schneider) Prior to 2001, I supported a much smaller government, but I wasn't particularly obsessed about government debt per se. I didn't think that government borrowing was stealing from future generations (the technology for stealing from future generations more or less... (0 COMMENTS)

Open thread for night owls. Thomas Frank: Talk about squelching inequality can't be left to elites

2 months agoUS Politics / Liberal : Daily Kos

At Salon, Thomas Frank, author of Pity the Billionaire and One Market Under God, writes Paul Krugman won’t save us: We need a new conversation about inequality: An excerpt: The one thing that just about everyone knows about inequality is that it’s a complex, highly technical problem, with many confusing causes and expressions. Show More Summary

Paul Krugman will leave Princeton for CUNY and a Manhattan-based existence

Here is the Bloomberg account, here are Krugman’s own words.  I say it’s a good move and if I were in an analogous position I would do something similar.  Think of it as another form of disintermediation.  Think of it also as being closer to useful airports and media centers. More generally, the value of […]

CUNY Scores Big!

Paul Krugman is retiring from Princeton at the end of academic year 2014-15, moving to Manhattan, and taking a job at CUNY.He went to them to ask if they had room for him to be "affiliated" with the Luxembourg Income Study. CUNY - IShow More Summary

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