PAUL KRUGMAN: Alan Simpson Is 'All Wrong' And Conventional Wisdom On Economic Policy Is 'Stark Raving Mad'

In our recent interview with Paul Krugman, we asked the Nobel Laureate and New York Times blogger about the phrase “very serious people” which he frequently uses to describe the folks in Washington like former Senator Alan Simpson, who is now known for his efforts at cutting the national debt via the Simpson-Bowles commission, and subsequent advocacy.

Paul Krugman is not a fan of Alan Simpson or his ilk. At all.

“Alan Simpson would be a very serious person,” Krugman tells us. “In other words, he talks about how serious he is, and then you look at what he actually says about the economy, about economic policy — it’s all wrong.”

He goes on to say the same thing, basically, about Jean-Claude Trichet, and argues that conventional wisdom now on economics has gone “stark raving mad.”

“Somehow in order to be considered serious in economic policy discussions, you have to ignore everything in econ 101.”

Watch Paul Krugman blast Alan Simpson and talk about “very serious people” below:

Produced by Kamelia Angelova, William Wei & Daniel Goodman

And Watch More From Our Interview With Paul Krugman:

It’s Entirely One-Sided: Republicans Are To Blame For Today’s ‘Nightmarishly Dysfunctional Political Situation’

• Paul Krugman: The Euro Crisis Will End With Something ‘Impossible’ Happening

• KRUGMAN: The Government Has To Do More Deficit Spending To Avoid A Full-On Depression

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