Paul Krugman’s ‘Twinkie Economics’

Email Print
FacebookTwitterShare

Has Paul Krugman been eating too many Twinkies? After all, in his infamous murder defense, Dan White successfully convinced a jury that eating lots of Twinkies helped to drive him insane and gave him diminished capacity for judgment when he murdered San Francisco’s mayor and a city supervisor in 1978.

In answer to a question I asked at the 2004 Southern Economic Association meetings, Paul Krugman told me (along with the rest of the audience) that the high marginal tax rates that existed until 1981 were (in his words) “insane.” Today, he endorses that insanity, claiming that high tax rates and massive unionization will bring back prosperity. My Krugman-in-Wonderland post disputes that claim.

7:13 am on November 19, 2012