Showing posts with label World China. Show all posts
Showing posts with label World China. Show all posts

Thursday, May 21, 2009

Why Krugman Is a Thorn in (Everyone's) Side


Why Krugman Is a Thorn in Obama's Side

May 21, 2009 by Chosun Ilbo columnist Kim Ki-cheon

Newsweek magazine in a cover story entitled "Obama's Nobel Headache" describes the embarrassment to the U.S. president from a series of scathing criticism from last year's Nobel laureate in economics Paul Krugman. Krugman has slammed the U.S. government's bank bailout plan as paying "cash for trash." He lambasted the so-called "stress test," which gauged the financial health of major financial institutions, as coming close to fraud.

Krugman is a natural rebel…

[…]

Yet Krugman was also the scourge of the Bush administration.

[…]

Some accuse him of being "an economist who died 10 years ago," claiming he has been more interested in inflammatory politics than research ever since he began writing the New York Times column in 1999.

[…]

In an international seminar in Seoul a few days ago, Krugman once again offered a pessimistic view, saying the global economy has just emerged from intensive care. Then when will it end? A hint comes from a comment posted on his blog in the New York Times. "We will know when the economic crisis is over when we no longer see Krugman everywhere."


The entire column is a must quick read. Find it here: Why Krugman Is a Thorn in Obama's Side

By Chosun Ilbo columnist Kim Ki-cheon

englishnews@chosun.com / May 21, 2009 12:00 KST


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