Krugman on Obama on Reagan, fisked
Barack Obama mentions Ronald Reagan, and Paul Krugman has a fit. He proceeds to revise Reagan’s legacy, because Clinton failed to change the narrative and Republicans are trying to rewrite history. Seriously.
Here’s the column, by celebrated New York Times columnist, former Enron adviser, and economist extraordinaire, Paul Krugman.
Debunking the Reagan Myth
By PAUL KRUGMAN
January 21, 2008
I thought, “Well, that was a quick read”, and was just about to retire for a power nap, when someone asked me for comment. So I thought, “Well, that’ll make a nice fisking.”
And it turned out to be very much worth fisking. Writes Krugman:
Historical narratives matter. That’s why conservatives are still writing books denouncing F.D.R. and the New Deal; they understand that the way Americans perceive bygone eras, even eras from the seemingly distant past, affects politics today.
It’s not the perception that matters, it’s the economic policies and principles that matter. Whether the New Deal was or was not sound economic policy matters very much, because it is on such historical lessons that many base their decisions of today.
And it’s also why the furor over Barack Obama’s praise for Ronald Reagan is not, as some think, overblown. The fact is that how we talk about the Reagan era still matters immensely for American politics.
Indeed. Maybe that’s because the Reagan era still matters immensely for Americans (not to mention the rest of the world).
Bill Clinton knew that in 1991, when he began his presidential campaign. “The Reagan-Bush years,” he declared, “have exalted private gain over public obligation, special interests over the common good, wealth and fame over work and family. The 1980s ushered in a Gilded Age of greed and selfishness, of irresponsibility and excess, and of neglect.”
And low taxes, the defeat of inflation, low oil prices, and the defeat of the Soviet Union. A Gilded Age indeed.
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