Real experience trumps academic economic take

info@islandpacket.comApril 24, 2013 

Columnist Paul Krugman has been battered around on this newspaper's Opinion page, most recently on Saturday. I will try to respond from my one-degree status, plus 60 years of activity in business. I have no argument, just praise for Krugman's academic record, his books, articles, Nobel Prize and the like. He has credentials galore but has had no "real" job. Most academics, including the distinguished stable at Stanford University's Hoover Institution (most of whom I usually agree with) suffer from the same malady. My life experience includes meeting a payroll, negotiating a union contract, making a business bank loan, building a sales force and making decisions in which a mistake could affect more than a thousand families. Recently, Krugman cited California as the solution to what our nation should look like. Heaven forbid if that is the answer. There is no monetary bank or European union to bail us out. I fear we are rapidly heading to be like Greece or Cyprus. Never in world history has socialism or government control been the answer. I am of World War II vintage and don't expect to be around for the final outcome of the Obama administration's attempt, but I doubt that it will produce a government "of the people, by the people, and for the people." God bless our beloved country. James R. Brigham Hilton Head Island

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