Monday, January 2, 2012

Steve's Barking at who's Paul Krugman

Who's Paul Krugman and why do they say such bad things about him?
Yes I know that he's a Nobel prize winner in economics but so was Milt Friedman (1).
Yea I know he has a PHD in economics, but after hearing what others who have a doctoral in economics say on the boob tube, I'm staring to believe that having being a doctor of economics is like having a doctor in basket weaving.
Yes I know that Dr Krugman teaches at Princeton, but isn't that the school that John Stossel graduated from?
Oh did I forget to mention that he writes a blog for the New York Times  ( That I follow faithfully), the paper that recently ( or not so recently) published fiction as fact.
Now why should I even care. I don't correspond with the man, and probably never will. I doubt he reads my blog, there are so few who do. But I was surfing the net on my boggy board and I found an awful lot of critics of the good doctor. There is even a blog that's devoted to knocking Doctor Krugman.
Now all this made me think.( I know that can be dangerous).  If the good doctor didn't exist, many a person would have a tough time earning a living. It seems like a whole cottage industry has emerged  knocking Paul Krugman PHD.

I'm making a plea to all economist out there, if you don't understand the theory of want plus the ability to pay then you don't understand one of the most basic idea of economics, So please don't teach economics and if you have a degree, give it back.

(1) Dr Friedman worked for the government under the New Deal. Wasn't treated very nice. Became a leading supporter of free market economics, for which he won the Nobel prize in economics, proving once again that hell hath no fury then a economist scorned.    
   

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