Implied Dissent

Friday, May 20, 2011

(Implicitly) Making Stuff (Up)

This is a pet peeve of mine, but I think it's important (so maybe pet peeve isn't the right term). Paul Krugman wrote a column on the state of US manufacturing, and can't find two sentences to note that the idea of long term decline is a myth. Not only that, but he very carefully constructs his sentences to leave the impression on people that it's true, without actually lying that I can see. Check out the data, while US manufacturing does dip a little during recessions, it is clearly rising over time. It's one thing when some random pundit without much economics knowledge doesn't know this stuff, but Krugman either does, or absolutely should. Chances of DeLong noting this? Approximately 0.1%.

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