03/08/2013 08:23 am ET

Paul Krugman: Markets Telling Us Washington's 'Prejudices' Are Wrong

Four years ago, as a newly elected president began his efforts to rescue the economy and strengthen the social safety net, conservative economic pundits — people who claimed to understand markets and know how to satisfy them — warned of imminent financial disaster. Stocks, they declared, would plunge, while interest rates would soar.

Read more on The New York Times