“Why isn’t a national economy like a corporation? For one thing, there’s no simple bottom line. For another, the economy is vastly more complex than even the largest private company.”—Paul Krugman “America isn’t a corporation.”
Paul Krugman shows that he should be glad there is no minimum requirement of intelligence to biologically sustain life…
He wants to complain that a government is not a corporation. Thank you for that truly deep insight Paul. Next up, why don’t you go investigate where bears do their business, with your crack intellect it shouldn’t take you more than a decade (okay, I was being nice, if I was being realistic it shouldn’t take Krugman more than two or three decades…or never).
Yes a corporation and a government are two different things. Yet, strange as it is, sometimes things that aren’t the same can learn from what works in another area. A baseball team isn’t a company, yet running it by statistics and economics might work well enough not to just break records and curses, but even get you a movie with a top list actor. And schools aren’t corporations either…but charter schools seem to be doing okay using that principle. Good leadership tends to be consistent in any field. It comes with lessons like getting rid of departments that don’t serve any purpose, cutting costs and fat, knowing what laws help business and which ones hurt…yeah can’t see how any of that could be useful in government.
But his proof is so fun (yes there were paragraphs and paragraphs of inane words, it didn’t prove anything except that the Nobel Prize Committee and the editorial board at the New York Times are clearly on heavy hallucinogenics).
His proof that this is no bottom line in a government…which is interesting because there should be. You shouldn’t spend more than you have. I know it’s a radical concept, one which Paul will never understand, but it actually works. Congress should try it sometime, might do wonders for the economy.
Oh and you have to love when he says that the economy is more complex than any corporation. This is odd, because a good little idiot Keynesian like Krugman believes the economy is simple enough to be run and controlled. It’s Austrians and Monetarists who argue the economy is too complex for any government to control and that any attempt to control it will always end up with the Invisible Hand slapping you down for your arrogance (you know kind of like we’re living through now). But it’s nice to see that Paul has finally realized it’s too complex for anyone to fully understand…which is why anyone who actually knows something about the economy (a statement that has never applied to Krugman or any Keynesian at any point in existence) knows to let it run itself, which it will, if you don’t get in it’s way.