Paul Krugman repeatedly invokes wealth inequality as a pretext for more government use of force to expropriate wealth from some groups of people in order to redistribute it to others.
But there is no shortage of irony when he, e.g., rails against “that most cherished of conservative myths, the insistence that we’re living in a meritocracy in which great wealth is earned and deserved”. Or when he dismisses “some self-proclaimed experts” for being nothing more than “a hired gun for the plutocracy”.
In case you missed it, earlier this year, Krugman got a gig worth $25,000 per month — $225,000 in total over two semesters — from the Luxembourg Income Study Center at the publicly-funded City University of New York. His job? Essentially, to be a brand ambassador for wealth inequality.
Virginia Postrel at Bloomberg likened Krugman’s lucrative gig to SodaStream hiring actress Scarlett Johansson to serve as their global brand ambassador and remarks how, “To Krugman haters, that sounds like a publicly funded do-nothing job. Even to sympathizers, it seems awfully ironic coming from a center studying inequality.”
Paul Krugman: Shill for the ‘Masters of the Universe’
As I’ve pointed out before, Krugman’s assessment of and proposed solution to wealth inequality
serves to distract attention away from the role of the government-legislated monopoly over the supply of currency and credit and its legalized counterfeiting operations that effect an upward transfer of wealth from the poor and middle class to the privileged members of the ruling class.
As I’ve also commented previously,
Krugman’s professed concerns about wealth inequality are hard to square with his advocacy for Fed policies that punish savers with low interest rates, which rob consumers of their purchasing power for the benefit of the government and the wealthy and reduce workers’ real wages through inflation, and which caused the recession and all its ill-effects like high unemployment in the first place. If he wants to do something about the wealth inequality that results from having a government-legislated monopoly over the supply of currency and credit print money out of thin air, he could just stop being a shill for the banks and quit advocating in favor of the very system that causes all the problems he claims to want to solve.
While railing against the “Masters of the Universe”, Krugman
perpetually advocates that the same Masters of the Universe who have monopoly control over the supply of currency and credit print money out of thin air to lend out at interest, which results in an upward transfer of wealth as the privileged class who receive the new currency first are able to spend it before the resultant increase in prices; who has advocated for this monetary inflation in part because the resultant price inflation reduces the real wages of workers by robbing them of their purchasing power; who has explicitly advocated that the Masters of the Universe print money to create a housing bubble to replace the dot-com bubble, which precipitated a financial crisis and exacerbated the very same persistently high unemployment and wealth inequality that he pretends to be so concerned about.
Simply stated, the Paul Krugman is a shill for the very same Masters of the Universe whose system he pretends so hard to be against in order to deceive the masses effectively into acquiescing to their own slavery. If you’ve ever wondered why I blog about him so much, this is why.
And, of course, he does quite well for himself hiring himself out as a gun for the plutocracy.
P.S. – About That Sodastream Controversy…
On an only somewhat related note, I wrote a series of posts on the controversy surrounding Scarlett Johansson’s gig with Sodastream, an Israeli company with a factory in an illegally-constructed Jewish settlement in the occupied West Bank.