Here’s me, back about 13 months ago:
I’d also love to know what Keynesians think of the Dems having a socialist as their lead member on the Senate Budget Committee, who then appoints a MMTer to be chief economist. And Krugman says the GOP relies on voodoo economics!
Of course my liberals readers have been outraged at my Sanders bashing. But now we have this:
Paul Krugman is now accusing Bernie Sanders of “deep voodoo” economics.
That’s a particularly damning insult among liberals, who pride themselves on being on the side of reason, evidence, and general wonkishness. Krugman’s dis came on the heels of an open letter released today by four big-wig liberal economists—all of whom either served in the Obama or Clinton administrations—claiming that “no credible economic research” shows that Sanders’s spending-heavy economic plan will result in the big gains outlined in a paper endorsed by his policy director.
The paper, conducted by economist Gerald Friedman, predicts GDP growth of over 5 percent and an unemployment rate of under 4 percent in a Sanders administration. As Krugman notes, liberals have laughed at Jeb Bush for claiming he could produce 4 percent growth.
So Europeans work far fewer hours each year than Americans, because of their high-tax welfare state. As a result per capita GDP in Europe is far lower than in America. But somehow if we adopt their economic system our per capita GDP, already far higher than almost any other developed country, will start zooming ahead at 5.3%/year. And I thought Trump was a clown.
Kudos to Krugman, for pointing this out.
(Just to be clear, I still greatly prefer Sanders to Trump—that’s how much I loath Trump.)
Update: This good article on Sanders and Denmark quotes Lars Christensen.