Paul Krugman tries to make sense of the phenomenon of the "triumph of failed ideas," i.e., those of the free market fundamentalists who led us into the economic collapse from which we've been struggling to emerge. The claptrap that more tax cuts and cutting government spending will lead us out of the recession has now been enshrined in the mainstream media as well. A "60 Minutes" segment broadcast last night demonstrates that the anti-Keynesian notion that this should be a time of government austerity is alive and well in current American mythology.
Can you say, "We're doomed"?
