Krugmanism of the Day

People are confusing an increase in costs that was largely (not completely) anticipated — after all, the plan is supposed to cover more people, and subsidize their coverage — with a cost overrun.

So a not completely anticipated increase in costs is not a cost overrun.

This news brought to you by a winner of the John Bates Clark Gold Medal, awarded once every two years to the best American economist under 40 years of age.

2 comments on “Krugmanism of the Day

  1. Do you suppose that he really means “anticipated” or is he using the word in the usual semi-literate’s sense of “expected”?

  2. In all fairness, Krugman’s 54 now, and won the John Bates Clark medal when he was 37 0r 38. His academic writings until that point were of a high caliber, for the most part, whether you or I agree with it or not. It is Krugman the journalist who has spouted this type garbage for the past 10 or so years. There is good reason why a number of my left-wing economics professors think Krugman nol onger has any shot at a Nobel, whereas 15 years ago he was considered a lock to eventually receive one.

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