Paul Krugman, Laureate of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2008 at a press conference at the Royal Swedish Academy of Sciences in Stockholm (Photo credit: Wikipedia)

In my view, this is another MUST READ from Nobel Prize winning, liberal, economist, Paul Krugman, writing in his op-ed column in the NYT. Check it out!

Stagflation, Stagnation, and Intellectual Asymmetry – NYTimes.com.

It was interesting to see the observation that Keynesianism was not necessarily about left and right. However, perhaps the most interesting point was about the right not being prepared to compromise and being purist in there views. Let me quote:

The right is purist, uncompromising, and ultimately not interested in contrary evidence; the left is much more open and empirical. And the economics profession, it turns out, is not that different from the political sphere.

Any thoughts?

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