Sunday, January 15, 2012

Krugman Contradicts Himself On S&P

When Standard&Poors downgraded America's credit rating last year, various leftists like Paul Krugman blasted them and said they had "no right to judge" and had a faulty analysis.

When by contrast the same agency downgrades France and 8 other euro area countries, suddenly Krugman argued that they have the right to judge and should be viewed as a source of wisdom because the S&P now use Keynesian reasoning to justify their downgrade.

It is of course not contradictory to say that a person or a group are wrong on some issues and right on others. It is however contradictory to one time dismiss someone based on past mistakes and claim they have no credibility or right to speak out because of it, only to later claim that they despite these mistakes do have that right and even use the fact that they apply the same thinking as them as an authority argument for that thinking


Post a Comment

<< Home