Sunday, November 16, 2008

Pity Alfred Nobel

Poster Jerry, on Common Sense and Wonder reposts a Newsbusters' article by Noel Sheppard. Jerry titles his piece, The Nobel Prize has become the equivalent of a dunce cap… It specifically refers to recent prize winner Paul Krugman, but surely could be expanded far beyond that.
It appears being bestowed a Nobel Prize for economics doesn't improve one's economic acumen, for in the course of roughly 60 seconds Sunday, Paul Krugman said Franklin D. Roosevelt's decision to raise taxes in 1937 deepened the Depression, but it's okay to raise taxes 70-plus years later when the economy is in trouble.
I think it was Alfred Nobel, while living in Greenwich Village, who said, "It don't take a Weatherman to tell which way this bomb blows."

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