The shrill Cassandra does it again:
So how did we end up in this state? How did America become a nation that could not rise to the biggest economic challenge in three generations, a nation in which scorched-earth politics and politicized economics created policy paralysis?
We suggest it was the inequality that did it. Soaring inequality is at the root of our polarized politics, which made us unable to act together in the face of crisis. And because rising incomes at the top have also brought rising power to the wealthiest, our nation’s intellectual life has been warped, with too many economists co-opted into defending economic doctrines that were convenient for the wealthy despite being indefensible on logical and empirical grounds.This time with co-authors...
I find it weird and flattering that, with relatively little formal training in economics and that colored by what was once called the neo-classical synthesis, I arrived at pretty much all of Paul Krugman's conclusions. Maybe I chose the wrong field.
My bemused vanity aside, it's pretty clear that conservative economists either chose the wrong field or only chose their field in order to monetize their credentials in the service of a pack of lies.