Anthony Gregory of the Independent Institute, one of the best young libertarian writers today, has a much more insightful piece, and I link it here because, contra Krugman, Gregory actually understands that governments cannot borrow and print us into prosperity. Gregory notes:
Although there is no single ideology uniting the movement, it does seem to have a general philosophical thrust, and not a very good one at that. OccupyWallStreet.org has a list of demands, and while the website does not represent all of the protesters, one could safely bet that it lines up with the views of most of them: A "living-wage" guarantee for workers and the unemployed, universal healthcare, free college for everyone, a ban on fossil fuels, a trillion dollars in new infrastructure, another trillion in "ecological restoration," racial and gender "rights," election reform, universal debt forgiveness, a ban on credit reporting agencies, and more power for the unions.In other words, the leaders of the Occupy movement want out-and-out dictatorship, as that is the only thing that can claim to order these things into being. In the world of Paul Krugman and his Occupy friends, government by fiat can overturn laws of science and economics and tax, borrow, print, and spend us into "prosperity."
In this world, only the State produces anything. Do we want "infrastructure?" Hey, no problem! Devote a trillion dollars to it (coming from nowhere) and it will magically appear. Do we want to do away with coal and oil and natural gas? No problem, Mon! Just make the order and we can have "clean, green energy" by fiat. Why bother with laws of science and economics when we can create a "New Science" and a "New Economics" by executive order?
For all of the "change" that Krugman and the Occupy crowd are demanding, I agree with Gregory that the Ruling Class of Washington, D.C., truly has nothing to fear from these folks. The most parasitic people among us are the ones being championed as our heroes and avengers, and I have seen nothing from the Usual Suspects leading this latest "movement" that leads me to believe that what they want is an Obama dictatorship on steroids.
Judge Andrew Napolitano, who I am sure is one of the many people on Krugman's "Hate List," warns that government is subject to all of the natural laws that bind the rest of us. That is something that gets past the Krugman and Occupy crowd.
Has there been misconduct on Wall Street? Yes, but the remedy was there three years ago: let the banks and financial houses that "invested" in the "toxic assets" take the bankruptcy haircut. The market would have meted out its "justice" for the stupid decisions they made.
Instead, it has been the government itself that has propped up the bad decisions, with the government -- and especially the Obama administration -- adding even worse decisions every day. However, from what I can tell, Krugman and the Occupy crowd are not satisfied and want out-and-out dictatorship, because ONLY a dictatorship can order what Krugman and company are demanding.
And, in the end, when that fails, who will Krugman blame? I'm sure that he can find his Goldstein, as he is quite good at doing that.
I think I understand why Krugman never has mentioned Steve Jobs in any of his posts or columns. Jobs did not "invest" in giving money to politicians, and he violated the Law of Krugman by saving money and developing products. After all, everyone knows that such things only hold back the economy, which can only move forward when governments implement inflation and other measures of "aggregate demand."
Thus, to people like Krugman, entrepreneurs like Jobs are nothing but parasites. They get rich and don't spend the money where Krugman wants it to be spent. They encourage people not to become bureaucrats or even economists. Furthermore, they don't even finish college; they just DO something, and that is unacceptable in the Wonderland of Krugman.