Tuesday, November 27, 2012

Krugman Hails the "Mensch" at The American Conservative

I warned you. The Bruce Bartlett madness published by AmCon is now being promoted at NYT by Paul Krugman:
A mensch, at least as I was taught the term, is someone who takes responsibility for his actions, including his mistakes. Alas, menschlichkeit is a rare virtue in modern America, certainly in the political sphere, where nobody ever admits being wrong about anything.

So all hail Bruce Bartlett, who writes movingly about how he came to realize that movement conservatism and its economic doctrine weren’t what he imagined them to be, and in particular how he came to realize that Keynesian analysis had a point.
Like I said, publishing the Bartlett nonsense is as bad as publishing Krugman himself.


  1. Speaking of Turncoats, Noahpinion wrote this on Sunday:

    In The Road to Serfdom, Hayek claimed that Keynesian-style macroeconomic management would lead to totalitarianism; in reality, nothing of the sort has ever happened. America, Europe, Japan, Korea, and others became solidly Keynesian after World War 2, and while macroeconomic management didn't always work as advertised, it nowhere and never led to the advent of totalitarian regimes.


    It was Robert Lucas and Edward Prescott who truly restored Hayekian "classical" economics to dominance in the macro field, with their models of frictionless economies and near-optimal business cycles.


    This foreshadowed the unfortunate libertarian support for dictators like Augusto Pinochet, as well as more recent libertarian flirtations with “scientific racist” ideas.


    In response, I pointed out that Keynes was a pedophile and a longtime advocate of eugenics. Further, I post a link to a 1977 TV interview with Hayek where Hayek stated that “The General Theory” was nothing but a ruse to put in place inflationist policies in order to lower British wages without the victims knowing what hit them.

    So, in response to me linking to Hayek’s interview on “Firing Line” in 1977 and posting a transcript in the comments, self-described “former libertarian” Gene Callahan wrote:

    It is true that Bob Roddis’s comments are much more disgustingly wrong than Noah’s were!

    For some reason, Gene Callahan does not like that 1977 Hayek video interview.


  2. 1. When the housing bust hit, I assumed that the entire Keynesian/monetarist narrative had finally been totally vanquished. Boy, was I wrong.

    Despite constantly repeating it myself, I failed to really take to heart the fact that Keynesianism is a scam and a ruse and that vast armies of people obtain power and riches from it. No fact or argument from us penetrates their armor. Since Austrians do not have any type of real media presence, we can be safely ignored, vilified and bullied.

    2. So, it supposedly dawns on Bartlett that there was not enough "aggregate demand" [what a garbage concept] back in the 30s. Or now? Just how did it come to pass that entrepreneurs made too much of the wrong stuff that could not be sold as profitably as expected? What a mystery. Someone should look into that.