Our Gothic economy update: Reaganomics isn't voodoo economics, but zombie economics, according to Paul Krugman.
I actually hoped that the failure of Reaganism in practice would kill it. It turns out, however, to be a zombie doctrine: even though it should be dead, it keeps on coming.
... why won’t these zombie ideas die?
... why won’t these zombie ideas die?
Krugman's been experimenting with the Gothic this year. He's done zombies before, and also invoked monsters, Others have seen the zombie nature of the Great Recession.
Infocult: keeping one eyestalk fixed on the economy as it shambles ever onward.
How bizarre that he didn't connect Reganomics to the Smoot-Hawley Tariff Act of the 1930's.
Reaganomics rested on Smoot-Hawley...so it was already a zombie then.
Ah well....when has fact ever gotten in the way of anything posted in the NYT?
Posted by: peter naegele | August 24, 2009 at 13:41
I don't know if you're aware of this, but economist John Quiggin has been bookblogging his his upcoming work, Zombie Economics: Six Dead Ideas that Threaten the World Economy at Crooked Timber. Relevent (or should that be Revenant?) posts are here.
Posted by: HP | August 25, 2009 at 02:16
Reaganomics rested on Smoot-Hawley
What?
Posted by: Jesse Walker | August 25, 2009 at 14:20