Krugman Nails It, Again

At the end of a blog entry called Mitt Romney, Liquidationist, in which he tries to explain, for the umpty-umpth time, that the lessons learned from the Great Depression and economic history since actually are instructive, Paul Krugman says:

What you really have to wonder about is all the not-stupid economists who have aligned themselves with this guy and that crew (i.e., Romney, Ryan, et al).  Probably they imagine that once the election is past sensible economics will return. But the odds are that they are wrong, and that they’re sacrificing their own credibility to put charlatans and cranks in the driver’s seat.

Updated
Krugman later updated his comments with this:

I guess readers didn’t get the reference in my last post. “Charlatans and cranks” was a phrase Greg Mankiw used in the first edition — but only the first edition — of his textbook to describe some of the economic advisers to Ronald Reagan, who told him that broad-based income tax cuts would have such large supply-side effects that the tax cuts would raise tax revenue.

But this is now more or less Mitt Romney’s official position. 

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