If a Socialist raves in the woods, but there’s no one around to hear it, should the forest creatures still seek to dismantle their private enterprise activities in order to develop a strong public sector? Or, put another way, Kevin sent me another Krugman diatribe. Here he is decrying the debt limit “crisis.”
Krugman’s rantings are rather formulaic. As he is Keynesian Socialist, you know exactly where he stands on all issues before he even opens his mouth. In fact, I’d say you can make you own Krugman rants by simply mixing and matching the following arguments:
- The free market is an unstable system that will tear itself apart without strong government intervention
- Depression is the logical result of an unregulated free market, and the private sector could never get out of a depression on it’s own.
- Instead, the government must spend money counter cyclically to “stimulate” the economy
- Private enterprise harkens back to our more primitive natures when it was a dog-eat-dog and we had to fight each other over scare resources. Bureaucratic action tends to be far superior because it is arrived as through consensus and often developed with the benefit of more enlightened minds like… well, him!
That last point is not really overtly stated as implied. But keep in mind, he’s got an Economic prize issued in Memorial of Alfred Nobel. As I’ve said in a prior post, Mr. Krugman has been the recipient of a funny kind of prize. Suffice it to say that Alfred Nobel never established a Nobel prize for Economics.
At any rate, let’s check Krugman’s latest rant and see how we did here. Hmm, well this one’s about how the terrible Republicans have sabotaged the Democratic process by demanding the government spend less money. With all the Republican bashing, I guess we can safely establish that Krugman is a Democrat. Oh wait, I already said that. See earlier where I said he was a Socialist.
The notion of curtailing government spending makes Keynesian Socialists apoplectic. Certain cultures revere certain ideas to the point of worship. They’ve lost all abilities to think critically when it comes to these cherished ideas. Muslim Fundamentalists have Sharia Law; Catholics have Virgin Mary; Hugh Hefner’s got naked ladies. Can you really imagine how anyone would react to a notion that these scared ideas might actually be harmful? And so it is with Krugman. Discussing the notion of cutting government spending is akin to an act of killing his deity.
For Krugman, government spending is the milk of human kindness from which all that’s good and right with the world will flow. Asking the this flow be restricted is the work of evil doers and lunatics. Caving in to these lunatics as, according to Krugman, President Obama has done is simply neglecting your office. How dare these evil doers demand that the spending stop, and how dare a Democratic President not stand up to them!
That’s really all that we have in this particular piece. There’s precious little fact to it. He merely recycles Keynesian tidbits I outlines earlier, which have never worked for anybody. FDR and all his Socialistic policies did not end the Great Depression. Japan’s nonstop government spending (which has gone over three decades and garnered a total triple it’s GDP) has not stopped it’s depression and brought prosperity to the land. In fact, if you examine history, you’ll discover it is only the expansion and contractions of credit by the banking system that leads to the business cycle. Furthermore, it is only because of government interference in the economic downturn that we get a depression. In this as in most things, government is the culprit, not the cure.