Krugman’s Brilliance

James Taranto, in his Wall Street Journal Best of the Web feature, says

The most intelligent thing Paul Krugman has ever written was a Jan. 28 entry, titled simply “Egypt,” on his New York Times blog:

I don’t know anything, have no expertise, haven’t even ever looked at the economic situation. Hence, no posting. If there comes a point when I have something to say, I will.

Taranto then mocks Krugman for shortly afterward making the ridiculous assertion that the situation in Egypt is due to global warming. (Global warming leads to higher food prices, which leads to riots. Using much of the world’s corn to make ethanol and debasing the value of the currency apparently don’t have any effects in Krugman-world.) He fails to note, however, the self-refuting character of Krugman’s remark. “Hence, no posting,” he posts.

No matter. It’s still probably the most intelligent thing he’s ever written as a political commentator.

One thought on “Krugman’s Brilliance

  1. Positively Socratic! What a maroon.

    Taranto went after him again today (it’s an ongoing gag- although the “gag” part involves less laughter and more fingers down throat) publishing an astute note from one of his own readers who correctly points out that it’s the fear of global warming that is driving up food prices (and causing much of the anxiety/unrest we’re seeing in the ME) By subsidizing ethanol production, grain is being diverted to a non-food use, so food grains go up in price.

    When I was a young pup and in my very first job as a grain trader, this connection was very, very basic. You know, supply/demand, that sort of quotidian, hum-drum, Econ 101 stuff that no longer intrudes into the upper atmosphere of His Eminence’s Nobel-Prize-winning cogitations.

    What a maroon.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s