He sees things coming well before the rest of the world does.
For much, much more on Krugman, one of the smartest economic and political minds of our time, check out this clearinghouse of Krugman goodness.
You cannot help the poor by destroying the rich.
You cannot strengthen the weak by weakening the strong.
You cannot bring about prosperity by discouraging thrift.
You cannot lift the wage earner up by pulling the wage payer down.
You cannot further the brotherhood of man by inciting class hatred.
You cannot build character and courage by taking away people’s
initiative and independence.
You cannot help people permanently by doing for them, what they could
and should do for themselves.
- Abraham Lincoln
Krugman may be more of a populist than say, Milton Friedman. But please, let’s not set up straw man arguments…Krugman has no desire to “destroy the rich”, Lincoln’s noble words aside. He merely believes that the way the system currently operates isn’t the most effecient way to go. Not blowing trillions by threatening and fighting wars against nations that would do us no harm, rethinking the unfettered, no-acountability way corporations do business, better educating our kids and providing both more efficient and more inclusive health care systems…I don’t see anything wrong or controversial about any of that.
And I say this as someone who cover the stock market for a living, who understands that the strength of our businesses is at the core of a healthy economy, and thus a healthy society. But for gosh sakes, there needs to be a balance here. Money is no more an infitinite resource than energy.
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