Tuesday, February 19, 2008

Deneen gets some backing from Krugman

Krugman writes:
Peak oil... — a dismal theory that keeps getting more plausible.

Krugman has been very pessimistic, rightfully in my opinion, under the Bush regime. However, his Bush hatred has begun to become a bit of an insanity, and I think this irrational pessimism is starting to cloud his judgment about other things. Krugman will be like that until a democrat gets elected, preferably Hillary.

Deneen, on the other hand, is using peak oil to justify his communitarian vision of the future. However, it does not matter whether it is peak oil or not, he just needs a compelling doomsday narrative to justify a massive change to our economic reality. Nevertheless, I thought I would, in the interest of fairness, mention that an economist mentioned peak oil as a plausible scenario.

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