Krugman the Nixonite

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“That the New Deal revivalists like Professor Paul Krugman . . . are essentially telling fibs and peddling historical legends is not offensive merely because it distorts the distant past.  These legends actually compound the deformations of the present by rationalizing policies that cannot succeed and which will only bury the nation deeper in debt.  And worse still, they perpetuate the busted monetary system and crony capitalism that arose from the wrong road taken by Richard M. Nixon.”

David A. Stockman, The Great Deformation: The Corruption of Capitalism in America, p. 134.

12:12 pm on April 24, 2013