Most Read
    Image 01 Image 02 Image 03

    Well, it could have been Krugman

    Well, it could have been Krugman

    Someone created a faux Paul Krugman Google+ account and posted the following:

    People on twitter might be joking, but in all seriousness, we would see a bigger boost in spending and hence economic growth if the earthquake had done more damage.

    The message sent out on Twitter (now removed) was picked up by Tim Carney (retweet now removed) and skeptically by Allahpundit.  There is an extensive Memeorandum thread as well.

    I don’t approve of creating fake accounts to deceive people, but the thing is, it could have been Krugman:

    … I will share this gem from Paul Krugman’s recent blog post in which he claims that the tragedy and recovery in Japan likely will be “expansionary.” Yes, we see yet another “economist” become a caricature of the people who
    claimed that the hoodlum who broke the baker’s window described in Henry Hazlitt’s classic Economics in One Lesson.

    As Hazlitt explains in the first chapter, the “Broken Window Fallacy” is the central fallacy that we see in one form or another, and from what I see, Krugman is the biggest advocate of this fallacy. Hey, I know. We’re in a “liquidity trap,” so the world is turned upside down. Right?

    More on the Broken Window Parable from Kathleen’s post last March.

    While it wasn’t Krugman, it could have been.  And that’s the priceless part of it.  Life imitating parody, or vice versa.

    DONATE

    Donations tax deductible
    to the full extent allowed by law.

    Comments



     
     0 
     
     0
    LukeHandCool | August 24, 2011 at 4:52 pm

    Maybe Krugman didn’t tweet it … but I’ll bet you he thought it!


     
     0 
     
     0
    Joe Redfield | August 24, 2011 at 5:45 pm

    I’m waiting for Herr Professor Krugman to claim he was misqouted out of context, or something, on the alien invasion remark, because even he is acute enough to realize he’ll never live it down, and even the rest of the Progressive econmists are going to be laughing at him behind his back for the foreseeable future.


     
     0 
     
     0
    kobayashi | August 24, 2011 at 11:04 pm

    Bastiat!

    […] Apparently it was not Krugman, but a hoaxer. However, as William Jacobson says at Legalinsurrection, it sure as heck could have […]


    Leave a Comment

    Leave a Reply

    You must be logged in to post a comment.

    Notify me of followup comments via e-mail (or subscribe without commenting.)

    Font Resize
    Contrast Mode
    Send this to a friend