Randex

Wednesday 19 October 2016

…however, completely familiar to anyone who read Ayn Rand’s “Atlas Shrugged” as a teenager. Nowadays, the speaker denies being a Rand devotee, but while you can at least pretend to take the boy out of…

Posted almost 3 years ago Publication date: 19 Oct 2016
Friday 25 March 2016
Negative
Paul Krugman, New York Times

…what, exactly, is the nature of [Paul Ryan’s] monetary faith? The same as the nature of Cruz’s beliefs: Both men are devotees of Ayn Rand, even if Ryan now tries to downplay his well-documented Rand fandom.

At one point Ryan got quite specific about his intellectual roots, declaring that he always goes back to “Francisco d’Anconia’s speech on money” — one of the interminable monologues in Rand’s “Atlas Shrugged” — “when I think about monetary policy.” And that speech is a paean to the gold standard and a denunciation of money-printing as immoral.

Posted over 3 years ago Publication date: 25 Mar 2016
Friday 18 March 2016
Negative
Paul Krugman, New York Times

…the Republican elite can’t handle the truth. It’s too committed to an Ayn Rand storyline about heroic job creators versus moochers to admit either that trickle-down economics can fail to deliver good jobs, or that sometimes government aid is a crucial lifeline. So it ends up lashing out at its own voters when they refuse to buy into that storyline.

Posted over 3 years ago Publication date: 18 Mar 2016
Saturday 06 February 2016
Negative
Paul Krugman, New York Times

Daniel J. Mitchell of the Cato Institute declared that by voting for Proposition 30, which authorized those tax increases, “the looters and moochers of the Golden State” (yes, they really do think they’re living in an Ayn Rand novel) were committing “economic suicide.”

Posted over 3 years ago Publication date: 24 Jul 2014
Negative
Paul Krugman, New York Times

…much of the right is thoroughly committed to the view that bad things only happen because of the government, that the private sector will never have problems if it has low taxes and the security of the gold standard. Paul Ryan is effectively the intellectual leader of the GOP — and he gets his monetary economics from characters in Ayn Rand novels.

Posted over 3 years ago Publication date: 01 Jul 2014
Friday 13 November 2015
Paul Krugman, New York Times

…this hard-money orthodoxy is relatively new. Republicans used to base their monetary recommendations on the ideas of Milton Friedman, who opposed Keynesian policies to fight depressions, but only because he thought easy money could do the job better, and who called on Japan to adopt the same strategy of “quantitative easing” that today’s Republicans denounce.

But now it’s hard money all the way. Republicans have turned their back on Friedman, whether they know it or not, and draw their monetary doctrine from “Austrian” economists like Friedrich Hayek — whose ideas Friedman described as an “atrophied and rigid caricature” — when they aren’t turning directly to Ayn Rand.

Posted almost 4 years ago Publication date: 13 Nov 2015
Saturday 10 October 2015
Paul Krugman, New York Times

If Paul Ryan has any sense of self-preservation — and that is one thing he surely has — he will look for any way possible to avoid becoming Speaker. The hard right is already attacking him, essentially accusing him of not being sufficiently crazy, and they’re right. On policy substance he’s totally an Ayn Rand-loving, reward-the-rich and punish-the-poor guy, but so are lots of other Republicans; what they want is someone willing to go along with kamikaze tactics, and he isn’t. His fall from grace would be swift.

Posted almost 4 years ago Publication date: 10 Oct 2015
Monday 05 October 2015
Negative
Paul Krugman, New York Times - The Conscience of a Liberal

This is amazing:

“I think the left wants slow growth because that means people are more dependent upon government,” Bush told Fox Business’ Maria Bartiromo.

Remember, this is the establishment candidate for the GOP nomination — and he thinks he’s living in Atlas Shrugged.

Posted almost 4 years ago Publication date: 30 Sep 2015
Saturday 22 August 2015
Paul Krugman, New York Times

…a lot of people seem to believe that real economists believe in sound money, preferably gold, and that only socialists believe that there can ever be any advantages to currency depreciation. Socialists, that is, like Milton Friedman. But of course modern conservatives get their monetary economics from Ayn Rand, not the Chicago School.

Posted about 4 years ago Publication date: 06 Jul 2015
Monday 25 May 2015
Paul Krugman, New York Times

…in many areas bureaucracy works better than laissez-faire. That’s not a political judgment, it’s the implicit conclusion of the profit-maximizing private sector. And people who try to carry their Ayn Rand fantasies into the real world soon get a rude awakening.

Posted over 4 years ago Publication date: 25 May 2015
Wednesday 06 May 2015
Paul Krugman, New York Times

…as the Fed holds its annual meeting in Jackson Hole, Greenspan will address a counter-conference organized by a group called the American Principles Project. The group combines social conservatism — it’s anti-gay-marriage, anti-abortion rights, and pro-“religious liberty” — with goldbug economic doctrine.

The second half of this agenda may be appealing to Greenspan, a former Ayn Rand intimate — as Paul Samuelson remarked, “You can take the boy out of the cult but you can’t take the cult out of the boy.” But the anti-gay stuff? And helping these people attack his former colleagues?

Posted over 4 years ago Publication date: 06 May 2015
Friday 03 April 2015
Paul Krugman, New York Times - The Conscience of a Liberal

Basically, leading Republicans didn’t just expect a disaster, they wanted one — and they were furious at Bernanke for, as they saw it, heading off the crisis they hoped to see. It’s a pretty awesome position to take. But it makes a lot of sense when you consider where these people were coming from.

After all, what is Atlas Shrugged really about? Leave aside the endless speeches and bad sex scenes. What you’re left with is the tale of how a group of plutocrats overthrow a democratically elected government with a campaign of economic sabotage.

Posted over 4 years ago Publication date: 03 Apr 2015