Magazine July 6, 2009, Issue

Blame Not the Deregulator

Paul Krugman: mythmaker (AFP)
It was market distortions that created the bubble

Last month, Paul Krugman launched a campaign to pin the financial crisis on “Reagan and his circle of advisers.” It was “Reagan-era deregulation,” Krugman wrote, that led us to the “mess we’re in.” The substance of Krugman’s screed was so tissue-thin that even ultra-liberal columnist Robert Scheer responded to it with bafflement: “How could Paul Krugman, winner of the Nobel Prize in economics and author of generally excellent columns in the New York Times, get it so wrong?” So let’s not credit Krugman with making a serious argument, rather than throwing a partisan grenade.

The broader narrative into which Krugman’s column …

To Read the Full Story

In This Issue

Articles

Features

Books, Arts & Manners

Sections

Letters

Letters

A reader reacts to Mitch Daniels’s comment on government intervention in the energy market.
The Week

The Week

It took only a few hours for the “Wise Latina” cover of our last issue to be roundly denounced as offensive by lefty bloggers.

Recommended

The Dossier Deceit

The Dossier Deceit

John Durham’s latest indictment reinforces that the Russian collusion conspiracy was built on a preposterous foundation.

The Latest