Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities

C'est la vie; c'est la guerre; c'est la pomme de terre . . . . . . . . . . . . . email: jpalmer at uwo dot ca

. . . . . . . . . . .Richard Posner should be awarded the next Nobel Prize in Economics . . . . . . . . . . . .

Friday, January 28, 2005

Paul Krugman - What's a Measly Two Years?

Paul Krugman used to be a respected and respectable economist. Unfortunately his brain has turned to mush, and he has become the darling of the elitist interventionist semi-establishment. He no longer seems to care whether what he writes makes any sense.

His latest offering in a column in the NYTimes is a discussion of why the current U.S. Social Security system does not discriminate against blacks:
African-American men who make it to age 65 can expect to live, and collect benefits, for an additional 14.6 years - not that far short of the
16.6-year figure for white men.
A two-year difference is huge, and he minimizes it, simply to disagree with those who favour social security reform. With remarks like this, he seems like the epitome of white liberals who deep down don't really care about what happens to minorities.

For more on this and other Krugman idiocies, see Donald Luskin:
So, Paul, can we assume that since two years life is a negligible matter, you would be happy to give up two years of your life so that an African-American can live two years longer? Or are two years only negligible when they are somebody else's -- and especially when that somebody happens to be an African-American?
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