On Friday evening February 25th Paul Krugman, president of the Eastern Economic Association, gave an address to a several hundred economists who were attending the organization’s annual conference in New York City. Krugman’s talk, “The profession and the crisis,” was quintessential Krugmanesque–well organized, witty, occasionally sarcastic, and full of errors, especially during the Q&A. However, it was heartening to listen to a Nobel Laureate in Economics admit, “Economists blew it,” as far as recognizing the housing bubble and the severity of the bust.
Archive for February, 2011
A better “new normal” for New Jersey
23
Feb
In his budget address to the Legislature on Tuesday, Governor Christie outlined his paradigm, a “New Normal,” to deal with the state’s ongoing fiscal crisis. Instead of proposing a restructuring of state government that would end the annual crisis atmosphere in Trenton, the Governor has come up with a rehash of the old paradigm–tax and spend—with a much needed dose of business tax cuts to boost the economy.
New Jersey’s dishonor roll
18
Feb
What do Senator Menendez and nine Republican and Democratic New Jersey members of the House of Representatives have in common? They voted to extend the Patriot Act the other day.
Ron Paul, Gary Johnson and the 2012 GOP presidential ticket
13
Feb
Rep. Ron Paul won the CPAC 2012 presidential straw poll on Saturday for the second year in a row. Mitt Romney came in second with 23% of the vote to Dr. Paul’s 30%. So how are the mainstream media spinning this turn of events? By asserting that the CPAC poll is not “scientific” and that there were so many young people under 25 out of the nearly 3,800 attendees.
Why abolishing the welfare state is the right thing to do
07
Feb
If you think government is a competent solver of social problems, think again. The Star Ledger reported (“N.J. tax to help low-income people pay cable TV bills was instead used to plug budget hole,” Feb. 6) that a fund established in 2006 by the Corzine administration to help low income and disabled New Jerseyans pay their cable bills has never been used as it was intended. In addition, to add insult to injury, the Christie administration “raided” the $9.4 million fund to balance this year’s state budget.
Why education is too important to be left to politicians
01
Feb
Below is an edited version of my brief remarks at a recent breakfast meeting of conservative activists.
Governor Christie at his State of the State address talked about “Big Ideas.” In the few minutes I have, I would like to talk about one “Big Idea,” the restructuring of “public education.” But before I do so, I would like to ask you four questions.