By Robert P. Murphy
In a recent New York Times column, Paul Krugman lamented our society's lavish rewards for bad actors. No, he wasn't criticizing the original cast of Star Trek. Rather, Krugman was bemoaning the hefty earnings that accrue to financial executives. Unfortunately, Krugman's critique is riddled with irrelevant paper citations and internal contradictions. The shocking abuses in today's financial markets would end immediately, if only the government would get out of the sector entirely.
Comment: Paul Krugman is a high priest of the State. He's following in Keynes's footsteps in ignoring multitudes of economic data in order to promote his ideology - let the state destroy an economy in order to achieve an permanent boom.