And calling Krugman an ignorant idiot is an act of honesty and truth.
Has that low-T almost man been correct about anything in his sorry life?
” low-T Krugman”
Gotta love this site
Has that low-T faux man been correct about anything in its sorry life?
No!
He IS on the left of most issues, but some of his economic ideas are sound. Note I said SOME. He rightly predicted the slowdown of the “Asian Tigers” after they topped out in the late 1990’s and early 2000’s. They went into growth decline afterwards and have never been back to where they once were. South Korea, Taiwan, Singapore, and Hong Kong moderated after having the world’s fastest growing economies for years. He wrote an excellent article called The Myth of Asia’s Miracle in which he rightly predicted that the lack of Total Factor Productivity in these “miracle” economies would cause them to greatly slacken. He correctly stated that enormous labor force growth, favorable demographics, higher education, and increased machine investment would eventually run out of dividends. This same thing is now affecting China. China’s work force is slowing, aging, and demographics are not on it’s side. It WILL run out of steam, and probably before it can get rich in comparison to the West. His article was so strong that the governments of these countries took note and have worried about trying to do something about it ever since.
He’s right a lot and wrong a lot. Once you learn to sift through the chafe to get to the wheat, his biases become easier to ignore.