Earlier quoted context omitted.
I'm not a big fan of Krugman, but let's also not forget that we were in a recession at the time of those remarks; when Krugman was saying the Fed should raise interest rates a few years later, and taht the US was addicted to Chinese treasury purchases, libertarians scoffed and called him an alarmist. This 2005 example of libertarian economic thought is particularly ironic, arguing that measures of inflation like CPI…
Point taken. However, Krugman's comments were a little stronger than what you suggest. He explicitly called for the creation of a housing bubble (see my other response below). Please don't take the link as a blanket endorsement of libertarianism; it was just the first link that came up as a result of my google search. I remembered reading up on Krugman's predictive failures many months ago ... Krugman stopped being a…
no disagreement there. It's just I think the same is true of some of his loudest critics :)