Krugman’s Last Hurrah?

“I’m a defender of the economic policies that we followed after World War II, that produced the best generation of economic growth that this country has ever experienced. . . . I like the America that my parents prospered in. I think we can restore a lot of that.”

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Those words were uttered by Paul Krugman two years ago when Congressman Ron Paul, in a debate on Bloomberg television, had him on the ropes over inflation. Mr. Krugman had a whole list of things he liked about the 1950s and 1960s. But he forgot to mention one — the gold exchange standard that was set up at Bretton Woods, New Hampshire, in the closing days of World War II and undergirt the growth his parents enjoyed.

Oh, does Mr. Krugman have a blind spot about that. He’s out this morning with a column that runs under the headline “Belief, Facts and Money.” It’s about what Krugman calls “conservative delusions about inflation.” It seems to have been ignited by a cable in the Times from a political scientist, Brendan Nyhan, about how more Republicans and religious people doubt Darwin and ignore climate change.

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