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.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.
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 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?
