Login  /  Register  | 3 premium articles left before you must register.

Economic theorist vs. right-wing doomsters

Thomas M. Moriarty East Lyme

Publication: The Day

Published 11/20/2012 12:00 AM
Updated 11/19/2012 11:55 PM

On Nov. 13, The Day published two letters bemoaning the re-election of President Obama, "America turning into socialist state," and "Glorifying need and punishing productivity."

The writers used the usual right-wing pejoratives such as "free entitlements" that "glorify need and punish productivity," "entitled masses" and "European-style socialist state" to describe what they see as the impending doom of American society as we know it.

Juxtaposed with these missives was a column by Princeton professor of economics Paul Krugman, who is MIT- and Yale-trained as well as a Nobel Laureate in economic theory.

Krugman sharply criticizes the hypocrisy and fallacious economic reasoning of the Republican deficit hawks, while pointing out that jobs are the most important issue we face today.

Which is correct?

While there are no absolutes in economics, in this case I think I'll go with the Nobel Laureate.

Town News

Visit Zip06
Submit Your:  Submit Your News Submit Your Photos Submit Your Events
Most Recent Poll
How far from home will you travel for Thanksgiving this year?
I'm just driving five to 10 minutes down the road to a relative's home.
I've got a little bit of a drive but I should be able to do it in less than an hour.
I'm leaving the state, but will make the trip by car.
I've got to fly to get where I'm going.
I'm shunning my family and friends and staying home this year.
Number of votes: 893

No current items found

No current items found

The Day on Facebook

In the past two weeks our Facebook fans have won tickets to the CT Tigers, Newport Winefest and Mystic Seaport. Become a fan of The Day on Facebook for access to these contests, breaking news, TheDay.com's best features and more!