Thursday, December 25, 2008

2008's Heros of the Evolution: Economist Paul Krugman

If you need an antidote from the gray-faced economists that talk in jargony circles and make your brain hurt, meet Nobel Prize winner Paul Krugman.

Krugman is both professor of economics and international affairs at Princeton University and op-ed columnist for the The New York Times, but he does a hell of a lot more than that.  

He is smart, practical – and most importantly – KICKS TOTAL ASS.

Since 1988 Krugman has written extensively for non-economists. Because of  him, I've had the surreal pleasure of sitting in my truck riveted by economic theory.  Yeah, riveted.  His insights into political movements and their effect on American economic prosperity fly in the face of economics 101, but recent events have backed-up  his theories.  

In particular, his recent book The Conscience of a Liberal dissects the past 150 years of American history and comes to the conclusion that the GOP's takeover by extreme factions of the right (inspired by Reagan and perfected by Bush 2) precipitated a systematic attack on the advances made in economic equality from FDR's New Deal to the ever-improving middle class of the 1960s.  Erosion of health care benefits, lower wages, and the disintegration of the middle-class resulted.

It's an persuasive proposition, and especially prophetic in the 2 years since he wrote the book's first edition. Especially fascinating is that you can watch his theories work in real-time as you read the papers.

What's even better, Politico recently reported that President-Elect Obama has been accessing Krugman's ample intellect.

This is the best financial news I've heard in a long time.  Rock on, Economics Geek!

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