After 24 years of leading opinions into intellectual dead ends, America’s leading cheerleader for neoconnery and Neo-Keynesian economics is ending his run as a New York Times columnist with an exhibition of the same sort of dishonest cluelessness that rendered him such a helpless punching bag for the entirety of that run.
It’s hard to convey just how good most Americans were feeling in 1999 and early 2000. Polls showed a level of satisfaction with the direction of the country that looks surreal by today’s standards. My sense of what happened in the 2000 election was that many Americans took peace and prosperity for granted, so they voted for the guy who seemed as if he’d be more fun to hang out with.
In Europe, too, things seemed to be going well. In particular, the introduction of the euro in 1999 was widely hailed as a step toward closer political as well as economic integration — toward a United States of Europe, if you like. Some of us ugly Americans had misgivings, but initially they weren’t widely shared.
Still, people were feeling pretty good about the future when I began writing for this paper.
Why did this optimism curdle? As I see it, we’ve had a collapse of trust in elites: The public no longer has faith that the people running things know what they’re doing, or that we can assume that they’re being honest… So is there a way out of the grim place we’re in? What I believe is that while resentment can put bad people in power, in the long run it can’t keep them there. At some point the public will realize that most politicians railing against elites actually are elites in every sense that matters and start to hold them accountable for their failure to deliver on their promises. And at that point the public may be willing to listen to people who don’t try to argue from authority, don’t make false promises, but do try to tell the truth as best they can.
We may never recover the kind of faith in our leaders — belief that people in power generally tell the truth and know what they’re doing — that we used to have. Nor should we. But if we stand up to the kakistocracy — rule by the worst — that’s emerging as we speak, we may eventually find our way back to a better world.
Even at the end of his very undistinguished career, Krugman cannot admit that he and his fellow ethnic elites completely blew the opportunity that their grandfathers and fathers so painstakingly prepared for them. They assumed near-complete control of the most powerful empire the world has ever seen at a time when the rest of the world was still digging itself out of the rubble of WWII, and instead of devoting themselves to the benefit of the American people, spent the last fifty years looting their host nation and abusing their power and their influence in a manner so obviously stupid and short-lived that it’s hard to even describe it as self-serving.
The reason people around the world have lost all faith in elites is the direct result of the complete failure by Krugman and his fellow elitists to govern reasonably, let alone responsibly. Their core assumptions were wrong, their objectives were insane, their policies were societally destructive, and their eventual failure was inevitable.
It’s not so much that Paul Krugman will not be missed. He will not even be remembered.
DISCUSS ON SG