Posted on 09/30/2011 8:07:54 AM PDT by SeekAndFind
The good news: After spending a year and a half talking about deficits, deficits, deficits when we should have been talking about jobs, job, jobs we’re finally back to discussing the right issue.
The bad news: Republicans, aided and abetted by many conservative policy intellectuals, are fixated on a view about what’s blocking job creation that fits their prejudices and serves the interests of their wealthy backers, but bears no relationship to reality.
Listen to just about any speech by a Republican presidential hopeful, and you’ll hear assertions that the Obama administration is responsible for weak job growth. How so? The answer, repeated again and again, is that businesses are afraid to expand and create jobs because they fear costly regulations and higher taxes. Nor are politicians the only people saying this. Conservative economists repeat the claim in op-ed articles, and Federal Reserve officials repeat it to justify their opposition to even modest efforts to aid the economy.
The first thing you need to know, then, is that there’s no evidence supporting this claim and a lot of evidence showing that it’s false.
The starting point for many claims that antibusiness policies are hurting the economy is the assertion that the sluggishness of the economy’s recovery from recession is unprecedented. But, as a new paper by Lawrence Mishel of the Economic Policy Institute documents at length, this is just not true. Extended periods of “jobless recovery” after recessions have been the rule for the past two decades. Indeed, private-sector job growth since the 2007-2009 recession has been better than it was after the 2001 recession.
We might add that major financial crises are almost always followed by period of slow growth, and U.S. experience is more or less what you should have expected given the severity of the 2008 shock.
(Excerpt) Read more at nytimes.com ...
Obviously Krugman has never run a small business seeking a conditional use permit from a city agency. He is an example of the reason I could never have worked in academia.
Have you noticed that whatever shows up in the morning business news, “it comes as a surprise” to the dopes on the WH staff?
Econ spelled backwards is noce which is “nut”...maybe thats what the prize was for...
Of course. The WH staff agrees with Krugman and can’t understand why their policies haven’t jump-started our economy.
I get so tired of these leftist douchebags and their lawyered, massaged arguments. Yeah Krugman, that lag has been getting longer the more we pass regulations, unionize, and raise taxes. Go back 100 years and you'll see a strong correlation. You make things higher and more expensive and it takes longer for a recovery. Lowering prices is economics 101 for stimulating the economy.
A big part of that is energy. If we could get gas back to even $1.50 and make the EPA quit shutting down coal plants and hamstringing refineries, realistic energy prices would do a great deal to stimulate this economy.
He talks about big corporations sitting on cash that don't want to invest. That shuck and jive completely avoids that the small business job engine is shut down because they don't have the lawyers and accountants to fight these regulations. So they either don't hire or go out of business.
Krugman is a sniveling little fascist elitist that thinks he's going to ramrod his pseudo-intellectual crap down our throats. Wrong.
What a Putz Nobel Prize my #!%%
I though that no one would ever be able to ring my bell like Noam Chomsky, but Krugman comes close.
These and other forms of government interventionism inhibit the capital accumulation which is responsible for economic progress. This inhibition causes stagnation of the economy and if it is severe enough, even economic regression.These are principles of cause and effect discovered by means of deduction and reason.But libtards are incapable of reason.
no wonder Limbaugh portrays him with a ferret sticking out of his head on his website.
You really do have to wonder what planet economists live on.
“Here ye, there is no indication that the institution of Slavery is harmful to the economy.”
Why is it that jerks like Krugman have absolutely little or NO experience in running a real business? And they are “economists”?? Now that is funny!
And falling subscriptions have nothing to do with a newspaper solvency …unicorns will still buy the NYT…right?
OK pk, if I have $2000 of credit card debt on my Visa card, should I go and pay it off with my Master Card at a higher credit rate?
Yeah, makes sense to me now. < /sarc>
There was only one on the first page that was against this article. I can't see how anyone is so stupid. Funny he even allowed comments, unlike the one he had a couple of weeks ago "Comments not available due to obvious reasons".
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