Saturday, October 15, 2011

Paul Krugman is Terrified by GOP Rabbit-Hole Economics -- Correctly


Unfortunately, we basically agree with Paul Krugman at the New York Times and his assessment of the U.S. Republican Party in his op-ed on Rabbit-Hole Economics, where he begins by writing:
"Reading the transcript of Tuesday’s Republican debate on the economy is, for anyone who has actually been following economic events these past few years, like falling down a rabbit hole. Suddenly, you find yourself in a fantasy world where nothing looks or behaves the way it does in real life.

And since economic policy has to deal with the world we live in, not the fantasy world of the G.O.P.'s imagination, the prospect that one of these people may well be our next president is, frankly, terrifying."
Krugman correctly concludes that leaders of the Republican Party apparently believe in their dogmatic fantasy world that it is the "government" that has caused our current financial problems, not hordes of greedy humans, individually or in banks or corporations, mercilessly exploiting their fellows, and not being hindered in doing that by our legal regulatory system.

Krugman writes correctly:
"It’s a terrible thing when an individual loses his or her grip on reality. But it’s much worse when the same thing happens to a whole political party, one that already has the power to block anything the president proposes — and which may soon control the whole government. "
How do we get a political party like the GOP to do a reality check?
Good question.

As a political centrist who sympathizes with many traditional doctrines of the Republican Party, it is simply incredible that economic topics are not discussed in a rational, knowledgeable manner but are solely guided by non-economic and non-rational dogmas that have no basis in economic fact. How is that possible?

LawPundit Post Archive

The ISandIS Network

Our Websites and Blogs: 3D Printing and More 99 is not 100 Aabecis AK Photo Blog Ancient Egypt Weblog Ancient Signs (the book) Ancient World Blog AndisKaulins.com Anthropomorphic Design Archaeology Travel Photos (blog) Archaeology Travel Photos (Flickr) Archaeo Pundit Arts Pundit Astrology and Birth Baltic Coachman Bible Pundit Biotechnology Pundit Book Pundit Chronology of the Ancient World Computer Pundit DVD Pundit Easter Island Script Echolat edu.edu Einstein’s Voice Energy Environment and Climate Blog Etruscan Bronze Liver of Piacenza EU Laws EU Legal EU Pundit FaceBook Pundit Gadget Pundit Garden Pundit Golf Pundit Google Pundit Gourmet Pundit Hand Proof HousePundit Human Migrations Idea Pundit Illyrian Language Indus Valley Script Infinity One : The Secret of the First Disk (the game) Jostandis Journal Pundit Kaulins Genealogy Blog Kaulinsium Kiel & Kieler Latvian Blog LawPundit.com Law Pundit Blog LexiLine.com LexiLine Group Lexiline Journal Library Pundit Lingwhizt LinkedIn Literary Pundit Magnifichess Make it Music Maps and Cartography Megalithic World Megaliths Blog) Megaliths.net Minoan Culture Mutatis Mutandis Nanotech Pundit Nostratic Languages Official Pundit Phaistos Disc Pharaonic Hieroglyphs Photo Blog of the World Pinterest Prehistoric Art Pundit Private Wealth Blog PunditMania Quanticalian Quick to Travel Quill Pundit Road Pundit Shelfari SlideShare (akaulins) Sport Pundit Star Pundit Stars Stones and Scholars (blog) Stars Stones and Scholars (book) Stonehenge Pundit The Enchanted Glass Twitter Pundit UbiquitousPundit Vision of Change VoicePundit WatchPundit Wine Pundit Word Pundit xistmz YahooPundit zistmz