Krugman properly attacks his profession...again
Paul Krugman is getting to be a bit like me. He sure does think most economists of the past 30 years are morons.
Here are two posts of mine on this subject, with the latter being one where Krugman said he "hates" economists.
Still, he is far too kind to the idiot Milton Friedman. Here is my take on Friedman, though perhaps I need to back off a bit on Friedman's earlier monetarist views. Even there, it shows one consistency, and that is being a toady to power. For him to support the Federal Reserve Board shows his true fealty is to the very corporate power he purposefully denied existed. The banks are the ultimate in corporate power, and the Fed is an institution that is anti-open government, and is designed to create a government of the banks, for the banks and of the banks. Just read William Greider's "Secrets of the Temple" and ask yourself whether I am being too extreme here...
ADDENDUM 9/8/09: My uncle sent me this link to Naomi Klein's comments about the economic meltdown being the result of Friedman-esque economics.