DERBYSHIRE MANAGES TO TEASE THE FRENCH AND KRUGMAN AT THE SAME TIME (Peugeots ro

http://takimag.com/article/the_street_keynesians_theodore_dalrymple/print#ixzz2plRrTw2eJOHN DERBYSHIRE MANAGES TO TEASE THE FRENCH AND KRUGMAN AT THE SAME TIME

(Peugeots roasting, on an open fire…. The smoke from Opels stinging at your nose…. Hmmm Hmmm Hmmmmm… Merry Christmaaaaaaaaas tooooooo yoooooooo….)

(If you don’t know, burning cars have become a ritualistic exercise in France with 130 or so cars burned per day, and over a thousand on New Year’s.)

–“Having read Mr. Krugman in The New York Times, [the French] have been persuaded that there is a chronic lack of demand in the French economy that they have decided to stimulate by burning cars.”

“What better stimulation, indeed, could be imagined? The roughly 40,000 cars burned a year .. provide employment for thousands of people. The cars have to be replaced, so manufacturing is encouraged; service industries such as sales and insurance are likewise given a fillip.”

“When .. Sarkozy called the rabble who rioted in 2005 “scum,” he should really have thanked them for their presciently Keynesian conduct.”–

(Krugman is notorious for perpetuating the broken window fallacy.)