Nobel Laureate economist Paul Krugman today:
“We have always known that heedless self-interest was bad morals,” said Franklin Delano Roosevelt in 1937. “We know now that it is bad economics.”
And last year we learned that lesson all over again.
Or did we? The astonishing thing about the current political scene is the extent to which nothing has changed.
The debate over the public option has, as I said, been depressing in its inanity. . . .
. . . President Obama. . . famously praised Reagan during the Democratic primary, and hasn’t used the bully pulpit to confront government-is-bad fundamentalism. That’s ironic, in a way, since a large part of what made Reagan so effective, for better or for worse, was the fact that he sought to change America’s thinking as well as its tax code.