Continuing on the issue of the efficacy of Keynesianism, it would appear, based on some of the “commentary” that we find on the other side of the partisan divide, that one cannot oppose Keynesianism in good faith. Quite the contrary; a number of left-of-center pundits are now arguing that to oppose Keynesian policies is to be (a) stupid, (b) malevolent or (c) all of the above.
Jon Henke rips these pundits apart in his inimitable manner. In doing so, he points out that even Paul Krugman–no right-winger, he!–has stated that monetary policy, not Keynesian spending sprees, will be the tool with which the economy can best get out of its slump.
I look forward, of course, to members of the “reality-based community” condemning Krugman as a dumb or unpatriotic conservative. They won’t, of course. Instead, they will just ignore evidence and statements that go against their cherished, preconceived notions.
That’s the intellectually lazy way to deal with inconvenient arguments. And the “reality-based community” has intellectual laziness down to a (dismal) science.