Tag Archives | Paul Krugman

In Defense of Obama

Obama Chesh 2.jpg

Photo: Elizabeth Cromwell (CC)

Paul Krugman has penned a lengthy essay for Rolling Stone on why President Obama is getting a raw deal from virtually everyone, including an opinion that “Obama has emerged as one of the most consequential and, yes, successful presidents in American history”:

When it comes to Barack Obama, I’ve always been out of sync. Back in 2008, when many liberals were wildly enthusiastic about his candidacy and his press was strongly favorable, I was skeptical. I worried that he was naive, that his talk about transcending the political divide was a dangerous illusion given the unyielding extremism of the modern American right. Furthermore, it seemed clear to me that, far from being the transformational figure his supporters imagined, he was rather conventional-minded: Even before taking office, he showed signs of paying far too much attention to what some of us would later take to calling Very Serious People, people who regarded cutting budget deficits and a willingness to slash Social Security as the very essence of political virtue.

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Catch of the Day: Who Believes in Crazy Conspiracy Theories?

climate changeJust to wind certain commenters up (you know who you are), here’s Jonathan Bernstein’s critique of that article I posted “Conspiracy Theories Aren’t Just For Conservatives,” at BloombergView:

A catch to Andrew Gelman for correcting an attempted but inaccurate catch by Alfred Moore, Joseph Parent and Joseph Uscinski, who thought they had caught Paul Krugman in an error on the always-fun topic of conspiracy theories. Not so!

Here’s Krugman’s original assertion:

Unlike the crazy conspiracy theories of the left — which do exist, but are supported only by a tiny fringe — the crazy conspiracy theories of the right are supported by important people: powerful politicians, television personalities with large audiences.

Moore, Parent and Uscinski take that quote and attack it on the basis that both liberals and conservatives are equally likely to believe in crazy conspiracy theories. That part, as Gelman agrees, is correct. Plenty of examples in both items for those liberals who are skeptical of it, but I’ll add one more anecdotal one: the belief among liberals in 2003 and 2004 that George W.

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Paul Krugman: Comcast and Time Warner ‘Barons of Broadband’

Pic: PD

Pic: PD

Paul Krugman rightly casts a jaundiced eye at the Comcast/Time Warner merger…

Via New York Times:

Last week’s big business news was the announcement that Comcast, a gigantic provider of cable TV and high-speed Internet service, has reached a deal to acquire Time Warner Cable, which is merely huge. If regulators approve the deal, Comcast will be an overwhelmingly dominant player in the business, with around 30 million subscribers.

So let me ask two questions about the proposed deal. First, why would we even think about letting it go through? Second, when and why did we stop worrying about monopoly power?

On the first question, broadband Internet and cable TV are already highly concentrated industries, with a handful of corporations accounting for most of the customers. Once upon a time antitrust authorities, looking at this situation, would probably have been trying to cut Comcast down to size. Letting it expand would have been unthinkable.

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States of Depression

Reagan HopeHere’s an article from Paul Krugman in the New York Times about the state of the economy, and this quote pretty much sums up his verdict: “In fact, if it weren’t for this destructive fiscal austerity, our unemployment rate would almost certainly be lower now than it was at a comparable stage of the ‘Morning in America’ recovery during the Reagan era.”

Krugman, a Nobel Prize winner in economics, is about as “liberal” (whatever the hell that means in 2012) as the korporate media will allow at this point. He has often been highly critical of Barack Obama, especially during the 2008 Democratic Party race, when he was one of the few to note Obama’s economic policies were already in campaign mode decidedly to the right of both Hillary Clinton and John Edwards.

That said, Krugman provides the following evidence:

One way to dramatize just how severe our de facto austerity has been is to compare government employment and spending during the Obama-era economic expansion, which began in June 2009, with their tracks during the Reagan-era expansion, which began in November 1982.

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