John Goodman | Economists increasing view Paul Krugman as a kook

<p>Nobel Prize winning economist Paul Krugman speaks during an interview in New York, May 4, 2012. REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS) - RTR31M2K</p>

John Goodman, Townhall:

New York Times readers may be surprised to learn just how out of touch Paul Krugman is with his fellow economists:

· Whereas Krugman has repeatedly claimed that there is no entitlement-spending crisis, more than 1,000 economists – representing the left and the right and 11 Nobel Laureates — have endorsed legislation that would require the federal government to regularly report on the extent of the crisis.

· While virtually all economists these days understand the harmfulness of high marginal tax rates and most probably prefer a progressive flat tax, Krugman is out on the fringe – claiming that a top rate of 90 percent would cause no serious damage.

· While Paul Krugman regularly praises the Rube Goldberg health reform we call Obamacare, President Obama’s own chief economic advisor has endorsed an approach that is much closer to the health reform advocated by Paul Ryan and John McCain.

Although the New York Times regularly brags about the fact that Krugman has a Nobel Prize, his fellow economists increasingly view him as somewhat of a kook – serving more as a shill for the Democratic Party rather that someone who writes about serious economics.


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