Sunday, July 3, 2016

Krugman on Brexit and the Decline of Intellectual Standards

P. Krugman correctly notes:
 I worry that the urge to condemn it [Brexit]has led to a lowering of intellectual standards.

And let me also say that the narrative of disaster is coloring some (not all) financial reporting. On the whole, the market reaction looks pretty muted to me. It’s not just stocks: European bond spreads are about where they were a month ago. True, globally, rates are considerably lower; but we aren’t seeing the kind of financial disruption so widely predicted. Yet headlines about turmoil are everywhere.
I should add, not the headlines here.



  1. The decline of intellectual standards is commensurate with the rise of liberalism.

    Liberalism is a mental disorder.

  2. "The sky is falling" rhetoric is not only the purview of the ones you call "Austrian-lites". It's starting to become a sort of crowd-think, for lack of better words. Thank you for helping me recognize that.