Knowledge Isn't Power

Krugman: The Truth About Income Inequality
Paul Krugman, professor of international trade and economics at Princeton University and Nobel Prize-winning economist, speaks during an interview in Hong Kong, China, on Thursday, Nov. 14, 2013. The European Central Bank (ECB) can do substantially more in principle on the use of forward guidance and quantitative easing, Krugman said. Photographer: Jerome Favre/Bloomberg via Getty Images
Paul Krugman, professor of international trade and economics at Princeton University and Nobel Prize-winning economist, speaks during an interview in Hong Kong, China, on Thursday, Nov. 14, 2013. The European Central Bank (ECB) can do substantially more in principle on the use of forward guidance and quantitative easing, Krugman said. Photographer: Jerome Favre/Bloomberg via Getty Images

Regular readers know that I sometimes mock “very serious people” — politicians and pundits who solemnly repeat conventional wisdom that sounds tough-minded and realistic.

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