Thursday, October 16, 2008

Looking For a Good Time? Like Economics?

Brad DeLong and Henry Farrell have you covered, with their quotations of hilariously over-the-top wingnut reactions to Krugman's Nobel Prize. Personal favorites:

Roger Kimball But today we have yet another illustration of Marx’s revision of Hegel’s version of the progress of history: things happen as it were twice: first as tragedy (Arafat) then as farce–witness this year’s Nobel Laureate for economics: Paul Krugman. Yes, that Paul Krugman, laughing stock (well, one of them) of The New York Times’s editorial: the anti-capitalist, anti-American town crier whose hysterical maunderings about the economy and American society were embarrassing before they went entirely off the reservation and became merely part of the ambient left-wing static emanating from The New York Times. Krugman is not just a left-wing academic economist. He is a hard-left activist whose only claim on our attention is as a bellwether of a certain species of anti-American demagoguery. Well, one must laugh to keep from crying. Meanwhile, Krugman will be $1.4 million richer–unless, of course, Barack Obama should be elected and start nosing around that “windfall” profit. That is not–not by a long shot–enough to make me wish for an Obama presidency, but it would be a pleasing consolation prize. [UPDATE: It occurs to me on reflection that it would have been much more appropriate had the Nobel Prize Committee, since they were determined to honor a fantasist like Krugman, awarded him the Nobel Prize for Literature. I mean, he work is not more unreadable than many recent Nobel Laureates in literature, and it is just as untruthful.]

Donald Luskin: The Nobel Prize is never posthumous—it is only awarded to living persons. So some great minds such as John Maynard Keynes and Fischer Black never received the prize in Economics. All that has changed. With today’s award to Paul Krugman, the Nobel as gone to an economist who died a decade ago. The person alive to receive the award is merely a public intellectual, a person operating in the same domain as Oprah Winfrey. And even as a public intellectual, the prize is inappropriate, because never before has a scientist operating in the capacity of a public intellectual so abused and debased the science he purports to represent. Krugman’s New York Times column drawing on economics is the equivalent of 2006’s Nobelists in Physics, astromers Mather and Smoot, doing a column on astrology—and then, in that column, telling lies about astronomy. But what’s done is done. The only question now is whether Krugman will pay taxes on the prize at the low rates enabled by the Bush tax cuts he has done so much to discredit, or if he will volunteer to pay taxes at higher rates he considers more fair.

Excellent. He was a pseudo Nobel prize. That he deserves. As his politics is pseudoscientific. Great. Now I can applaude. I am sure many of you have watched him on cable networks. Has anyone else noticed he seems a little off. He speaks like a mouse and his beady eyes have a strange stare. He looks like if someone droped a glass he would scream.
We all applaude, friend. We ALL applaude.

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