05/09/2011 12:58 pm ET Updated Jul 09, 2011

Paul Krugman: Blame Economy On 'Policy Elite,' Not The Public

The fact is that what we’re experiencing right now is a top-down disaster. The policies that got us into this mess weren’t responses to public demand. They were, with few exceptions, policies championed by small groups of influential people — in many cases, the same people now lecturing the rest of us on the need to get serious.

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