MCViewPoint

Opinion from a Libertarian ViewPoint

EconomicPolicyJournal.com: The Worst Column Paul Krugman Has Ever Written

Posted by M. C. on March 3, 2021

https://www.economicpolicyjournal.com/2021/03/the-worst-column-paul-krugman-has-ever.html

The Worst Column Paul Krugman Has Ever Written

Paul Krugman

In his latest New York Times column, Paul Krugman writes:

It’s true that both Economics 101 and conservative ideology say that more choice is always a good thing. Milton Friedman’s famous and influential 1980 TV series extolling the wonders of capitalism was titled “Free to Choose.”

The spread of this ideology has turned America into a land where many aspects of life that used to be just part of the background now require potentially fateful decisions. You don’t get a company pension, you have to decide how to invest your 401(k)…

Some, maybe even most, of this expansion of choice was good. I don’t miss the days when all home phones were owned by AT&T and customers weren’t allowed to substitute their own handsets.

But the argument that more choice is always good rests on the assumption that people have more or less unlimited capacity to do due diligence on every aspect of their lives — and the real world isn’t like that. People have children to raise, jobs to do, lives to live and limited ability to process information.

And in the real world, too much choice can be a big problem… I’d suggest that an excess of choice is taking a psychological toll on many Americans, even when they don’t end up experiencing disaster…

So the next time some politician tries to sell a new policy — typically deregulation — by claiming that it will increase choice, be skeptical. Having more options isn’t automatically good, and in America we probably have more choices than we should.

 How idiotic can a New York Times columnist get? 

More choices mean more flexibility and if there develops a situation where it is too difficult for many to choose via myriad options, why wouldn’t the market develop simple options?

This is probably Krugman’s worst column he has ever written.

It presents an absurd scenario where the only solution is less choice for all and more government authoritarianism.

Krugman is clearly out front, ahead of the pack, for the 2021 Stalin Award. –RW

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