Paul Krugman: An Orthodoxy of One


Mark Thoma sends us to a piece by Douglas Holtz-Eakin that is both sad and funny.

The sad part is seeing Holtz-Eakin come to this. He did a fine job running the Congressional Budget Office, shielding it from partisan influence and producing reports that were useful to all sides. Now, however, he’s parroting the party line, and he doesn’t even seem to be making much of an effort. I mean, still peddling expansionary austerity at this point?

The funny part is his description of the anti-austerity position as the “pundit orthodoxy”. Wow. Just the other day the various Joes – Joe Scarborough, Joe Kernen, etc. – were saying that I’m all alone, a “unicorn”, one of maybe 3 or 4 people in the whole world who don’t think that the deficit is the biggest problem we face. (I see from TPM that JoScar now says that I’m the Wayne LaPierre of debt.) Now I’m part of an orthodoxy?

Well, maybe. Look at all the pundits on major op-ed pages or TV shows calling for an end to austerity and more stimulus. There’s me, and there’s … well, maybe Martin Wolf.

But I guess I’m such a big guy that I’m an orthodoxy all by myself.

An Orthodoxy of One –

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