The DeLong Hall of Honor

13 January 2009 at 12:05 pm Peter G. Klein 4 comments

| Peter Klein |

Brad DeLong continues to be one of the stupidest smart people around. When the House failed to pass the $700 billion bailout the first time back in September, and the stock market fell by $1.3 trillion, Brad estimated the true cost of the bailout at $100 billion (ha!), added $2 trillion in lost wages from its failure to pass, and accused House Republicans of having a required benefit-cost ratio of 30-to-1. Of course, the bailout bill passed a week later, and the stock market fell by another $1.2 trillion. Oops! In general, there’s no economic policy issue that Brad can’t spin into a childlike morality play pitting noble, enlightened Democrats against vile, stupid Republicans.

His latest post in this vein, characterizes all economists who publicly oppose Obama’s proposed stimulus plan “ethics-free Republican hacks.” Most of the individuals quoted aren’t actually Republicans, but never mind. You Go, Girl! When I saw that my colleague Mike Sykuta made the list, I was jealous, and upset that I hadn’t written anything specifically opposing the stimulus. So, Brad, I want you to know that I reject the stimulus plan, and the sophomoric Keynesian reasoning behind it, lock, stock, and barrel. Will you please include me in your next Hall of Shame? (BTW I am not now, and have never been, a Republican.)

Update: See also Boudreaux and Horwitz and their commentators.

Entry filed under: - Klein -, Bailout / Financial Crisis, People.

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4 Comments Add your own

1. simone | 13 January 2009 at 9:38 pm

DeLong’s statements reflect the fact that he is intolerant of those who disagree with him. A sad situation for a professor.
2. david | 13 January 2009 at 11:16 pm

I thought the $1.2 trillion thing was amusing, as it was so transparently silly. I doubt he believes such claptrap
3. art pepper | 14 January 2009 at 12:32 pm

Perhaps. But the problem is that, judging by his comments (or at least those that he does not delete) most of his readers do believe such claptrap.
4. TRUTH ON THE MARKET » Welcome New TOTM Blogger Mike Sykuta | 27 October 2009 at 10:45 pm

[…] from his guest blogging stints at Organization and Markets. Or perhaps making Brad DeLong’s Hall of Honor. Mike joins J.W. Verret as the second addition to blog in the last week, and we hope to announce […]