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Paul Krugman Stars as the Quacky Witch Doctor in Fantasy Sex, Wild Economic Lies, and the Mad Mad Medical-Monopoly Videotape

Excerpt from the full posting (click here to see the full post)

If you haven’t had a chance to tally up Dr. Krugman’s deceptions, omissions, and errors as the Liberal leader of the health care debate, here is the list of charges:

1.              Dr. Krugman tars private insurance with high administration costs when those high costs go away after reform.

2.              Dr. Krugman loves Medicare and wants a single-payer system, but he never mentions the huge losses Medicare takes due to fraud. If Medicare is better at policing fraud than private insurance, why does he never bring it up?   

3.              Dr. Krugman extols on the virtues and simplicity of Medicare while at the same time he never once explains why the insolvency of Medicare doesn’t matter.

4.              Dr. Krugman wants affordable insurance, but he never once looks at malpractice litigation as a source of our current problems.

5.              Dr. Krugman argues that private medical insurance doesn’t work anywhere and never has, when it does work in the most successful countries in the world (Japan and Germany and Switzerland the Netherlands). His omission deceptively implies these countries don’t exist.

6.              Dr. Krugman assigns private medical insurance to the scrap heap because buyers will never be able to comparison shop for a good deal. The truth is that a comprehensive medical coverage policy for all, the universal coverage he has long argued for, it will guarantee that buyers can easily compare the offerings of as many sellers as there are.

7.              Dr. Krugman advocates the public option and a single-payer system, when that choice violates the most basic and settled findings of his profession of economics, including the suggestions he makes in his own text book (see "Monopolies: And The Text Books Says?" in the post here).

8.              Dr. Krugman claims private insurance companies spend a great deal of effort denying claims and faults them for it, but Medicare denies more claims than any major private insurance company.

Click here to see the full post on medical reform.


Michael David White is a mortgage broker in Chicago.