Politics & Media
Mar 30, 2009, 09:56AM

Parsing Krugman—or not

A recent Newsweek article on Krugman's "loyal opposition" to the Obama Administration's financial decisions is little more than a hands-in-the-air profile.


To me, the problem is that we're having the wrong conversations. Newsweek is writing about Paul Krugman instead of writing about what Paul Krugman is saying. The rest of the financial press overwhelmingly casts the nationalisation debate in ideological terms, rather than focusing on the practical challenges. And Mr Krugman, who should be well aware of the practical challenges, particularly as they are embodied in the populist Congress and the bottleneck Senate, focuses his ire instead on the administration, which can only operate within the leeway extended by the legislature.


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