Remember the 51 “national-security experts” who declared without any hesitation that the Hunter Biden laptop had to be Russian disinformation meant to hurt poor Joe Biden?
We now have a replay of that, but with 16 Nobel Prize winning economists declaring that the economy will fare better if Biden (or any Democrat) wins. That should settle the question, right?
In his latest “Bastiat’s Window” post, Bob Graboyes disagrees:
For those who trust markets, businesses, and individuals more than government, there’s plenty to dislike in the economic policies of both Joe Biden and Donald Trump. That said, the most unhelpful piece of campaign literature this year is from the Biden side, not so much for its content, but rather because it undermines the scientific reputation of economics and the integrity of its highest honor—the Economics Nobel. It’s a letter from sixteen Nobelists arguing that, “Joe Biden’s economic agenda is vastly superior to Donald Trump’s.” The letter offers ideologically skewed ad hockery as economics and commandeers the Nobel’s prestige. (The letter is here.)
Are these 16 really sure that the full-bore statism of the Dems will lead to better conditions for Americans than the somewhat more laissez-faire ideas of the Republicans? Or is it merely that they are comfortable with their luxury beliefs in the wonders of big government and want to help the Democrats as they herd us down the road to serfdom?
Graboyes points to the bad track record of the singularly nasty Paul Krugman:
Following the 2016 election, Nobelist-turned-pundit Paul Krugman predicted that Trump’s election meant:
“we are very probably looking at a global recession, with no end in sight.”
Krugman’s prognostication received enormous coverage, but proved completely wrong. Economic growth was robust in the Trump years until the exogenous shock of COVID.
Graboyes also observes the dishonesty of the claim that Trump would probably run up huge deficits and ignite inflation, while at the same time saying that Biden’s huge deficits have bolstered the economy.
Our bloated federal leviathan has done untold harm to the country, and a small part of that has been the undermining of intellectual integrity.