Paul Krugman is often described as a winner of the Noble Prize for economics – Mr Noble set up no such prize, but let that slide (after all good people have sometimes been awarded this prize over the years). However, he is in fact not an economist at all – he is just someone who is called an “economist” because he has the position of “Professor of Economics” at a university (as if a job title describes knowledge).
Paul Krugman has for decades sneered at the idea that economics is about reason and logic – that it is (as the “Austrian School” claims) an a priori subject. On the contrary, Paul Krugman claims that economics is an empirical subject – all about understanding empirical evidence and making predictions.
The links given in this Cafe Hayek featured article show that Paul Krugman does not understand empirical evidence and makes predictions that are wildly wrong – i.e., by his own definition, he is not an economist.
Of course there is an alternative view:
This would be that Paul Krugman does have some grasp of economics – but chooses to support an ever more interventionist government for reasons of political ideology, in spite of the economic harm he knows such a line of policy will cause.
For example, Paul Krugman does not predict that the Obama “Stimulus” spending orgy will succeed (on top, please remember, of all the wild “Stimulus” spending by President Bush) – on the contrary Paul Krugman admits the “Stimulus” absurdity will fail – however he claims that this is because it is not big enough.
Almost a trillion Dollars is “not enough” – and however many trillions of Dollars were spent it would still be “not enough”. Any failure of statism is explained away as the result of there not being enough statism.
Would anyone still like to claim that Paul Krugman is an economist?