In Kudlow’s recent article on NRO, he argues that inflation is currently nonexistent. He exclaims, “Liberal Keynesian politicians and their academic advisors predicted inflation in the 1980s. They were dead wrong. Some of the very same voices are again predicting inflation now. They will be dead wrong again.”
He should address the Austrian politician (Ron Paul) and his academic advisors (Mises Institute) who have been denouncing the destructive inflationary policies set by the entire existence of the Federal Reserve system. It’s time he stop his phony debate with Keynesians and start addressing the fact that government-produced Keynesian economic indicators will not quantify the full substance of an inflationary problem.
It’s too bad that supply siders like Kudlow and those at National Review are seen and accepted as anti-Keynesian free marketers. They are always putting on this facade of laissez-faire, particularly with their relentless psuedo-attacks on Keynesians like Paul Krugman. It’s time for an NRO Kudlow truth squad. Whether Kudlow knows it or not, his theories are just a reformation of the Keynesian orthodoxy, not a refutation of it. At least with Krugman you know he’s a statist Keynesian. With Kudlow, you get someone claiming to be free market, yet the substance of his commentary is just a morphed version of statist Keynesianism.
