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Why Many People Flunk Econ 101

I have just enough educational background in Economics to make me dangerous.  So rather than try to analyze things myself, I rely on professional economists who (a) know what they are talking about and more importantly (b) have a good track record in correctly predicting what the economy was going to do at any given point.  And that’s precisely why I rely mainly on Paul Krugman’s writings.  I’ve been reading his stuff now for well over ten years, and in that period he’s pretty much nailed every single up and down in the economy.  Why in the world would anyone challenge his approach to macroeconomics?  As Krgthulu notes here, it’s all about politics.  Or as Upton Sinclair put it, “It is difficult to get a man to understand something when his salary depends upon his not understanding it.”  And for the plutocrats of the Republican Party, everything is about their “salary”, the rest of the world be damned.