This guy really is delusional. He was obviously given a nobel prize just so his distorted views would have some credibiltity, though they’re not in any way credible.
This is the guy who said The Stimulus failed because it was too small.
He’s just trying to push the idea that if the government only spends more money it doesn’t have, everything will be ok. He ignores what’s happened the last four years and still desperately clings to his Keynesian fantasies.
Obama, Algore and Yasir Arafat also “won” Nobel Prizes.
It’s a PC joke.
As for “credibility” added unto someone via a Nobel Prize....I offer you Arafat, Carter, Gore, and Obama. ‘Nuff said.
Economics is a very broad field. There are many parts to it. Krugman actually made a very important breakthroughs in a very narrow area. Unfortunately he feels it necessary to talk about all of the others... like an astrophysicist who made a breakthrough in understanding the pattern to solar magnetic fields commenting authoritatively on Ocean currents and assuming that they are dominated by local magnetic fields.