In his column attacking Mitt Romney, Paul Krugman says that Romney is engaging in "post-truth politics," and maybe he is right. Mitt Romney, after all, is a politician, although I would also say that Barack Obama has been engaging in a post-truth presidency, something Krugman never will admit because, after all, he is first and foremost a partisan Democrat.
(You see, we are supposed to believe, if we read Krugman, that Obama can pour hundreds of billions of dollars into "green energy" projects like corn-based ethanol, and out of all this spending will come "clean energy" and prosperity. This literally is impossible, but being that Krugman is a "post-truth economist," I guess everything is possible in Wonderland and at Princeton.)
Keynesian economics promises us a permanent economic boom just as long as governments have the courage to spend money. (I say "economics" although economic analysis actually comes from the fact of scarcity, something that Keynesians deny, if not in word, then certainly in action.) Furthermore, as we have seen from Krugman these past few years, empirics are for people who don't believe in Keynesian Truths. Other theories must be set up for falsification, but Keynesianism is Truth in its Own Right.
Why do I say this? For more than three years, Krugman has insisted that had the Obama "stimulus" been $1.2 trillion instead of a chintzy $800 billion, we would have been in a full-blown recovery by now. How do we know that it is true? Because Keynesian economics is true, and therefore, the Keynesian "stimulus" always works, and since this stimulus did not work, the problem was that the government did not spend enough money.
This is what one calls the informal fallacy of "Begging the Question," and it provides the sandy foundations for Keynesian thought. But Krugman and the Keynesians are not satisfied with just committing informal fallacies; no, they also are champions of promoting the infamous "Broken Window Fallacy" first given us by the great Frederic Bastiat, who understood the Law of Opportunity Cost far better than anyone today at Princeton University's economics department.
And, no, government really isn't Santa Claus and, no, someone who questions the out-of-control spending in Washington is not a Scrooge. But given that we are in an age of politicized Post-Truth Economics, I guess one can score more political points if one really claims that when governments print money, they are showering us with wealth.