Keynesians Inspired By The Twilight Zone
August 15, 2011 2 Comments
Paul Krugman serves up destructive economic nonsense with a smile. Remember, this is the man who actually proposed that the US Government create a housing bubble, in order to make up for the dot com crash and the aftermath of the 9/11 attacks.
Now he preaches how wonderful war and fear of war is for the economy – and not just the undertakers – making reference to a classic TV series.
How can presumably decent and intelligent men do stupid and evil things? Taking up Keynesianism appears to be one way.
Krugman: If we discovered that space aliens were planning to attack and we needed a massive buildup to counter the space alien threat and really inflation and budget deficits took secondary place to that, this slump would be over in 18 months. And then if we discovered, oops, we made a mistake, there aren’t any aliens, we’d be better.
There was a Twilight Zone episode like this in which scientists fake an alien threat in order to achieve world peace. Well, this time…we need it in order to get some fiscal stimulus.