The Kool-Aid wears off
Posted by Charles II on November 27, 2012
Via Greg Sargent, Bruce Bartlett on what it is to realize that being a Republican = being wrong:
After careful research along these lines, I came to the annoying conclusion that Keynes had been 100 percent right in the 1930s. Previously, I had thought the opposite. But facts were facts and there was no denying my conclusion.
I finished the book just as the economy was collapsing in the fall of 2008. This created another intellectual crisis for me. Having just finished a careful study of the 1930s, it was immediately obvious to me that the economy was suffering from the very same problem, a lack of aggregate demand. We needed Keynesian policies again, which completely ruined my nice rise-and-fall thesis. Keynesian ideas had arisen from the intellectual grave.
On the plus side, I think I had a very clear understanding of the economic crisis from day one. I even wrote another op-ed for the New York Times in December 2008 advocating a Keynesian cure that holds up very well in light of history. Annoyingly, however, I found myself joined at the hip to Paul Krugman…
For the record, no one has been more correct in his analysis and prescriptions for the economy’s problems than Paul Krugman. The blind hatred for him on the right simply pushed me further away from my old allies and comrades.
The final line for me to cross in complete alienation from the right was my recognition that Obama is not a leftist. In fact, he’s barely a liberal—and only because the political spectrum has moved so far to the right that moderate Republicans from the past are now considered hardcore leftists by right-wing standards today. Viewed in historical context, I see Obama as actually being on the center-right.
At this point, I lost every last friend I had on the right. Some have been known to pass me in silence at the supermarket or even to cross the street when they see me coming. People who were as close to me as brothers and sisters have disowned me.
Paul Krugman responds
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