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OPINION

Krugman: Is Krugman Too Big to Fail?

By PAUL KRUGMAN
Krugman: Is Krugman Too Big to Fail?

An urgent question is being asked today in the massively influential community of Nobel-prize-winning economists. Will the demise of the newspaper which carries Paul Krugman’s columns mean the demise of Paul Krugman? 

Voices across the economic spectrum have been warning for years that the enormous investment I have made in being the Cassandra of free-market economics has left me dangerously overexposed in the event of a catastrophic downturn in the economic-opinion market. 

Conservatives say that downturn is here. They argue that despite a decade of warnings from me, a massively influential Nobel-Prize-winning economist and liberal, the Great Recession still happened. Despite dire warnings to President Obama that his federal stimulus was too puny and another Great Depression would ensue, the economy is showing signs of recovery. So what value does massively influential economic opinion have? "Diddly-squat," claim the naysayers with the hard right going as far as "jack-shit."

Those less inclined to lemming-like hive-thinking are asking questions too. Can my voice however massively influential, be allowed to fall silent?  Or is there such a thing as an economic-opinion-resource that’s too big to fail? 

Fair questions. But I’d like to offer an alternative hypothesis. It’s this: I am actually too big to fail. But not the way people think. It’s because I have pockets so deep you wouldn’t believe. 

My collection of extra-small-size antique and exotic used women’s shoes, which are kept in a secret location near Princeton, is without parallel in the global multi-billion-dollar extra-small-size used women’s-shoe market. Carrie Bradshaw has nothing on Paul “Mr Big” Krugman. A pair of my fragrantly decayed 1950s genuine-cork-soled Ipanema Beach espadrilles alone would keep me in clover for years. All it takes is one Asian buyer - of the right bent.

And, in the unlikely event that the extra-small-size used women’s-shoes market goes belly-up, I have a backup. A sensational idea for a Broadway musical I have been working on for years, guaranteed to spin off 7-figure annual profits indefinitely. What’s it about?  What else?  

Cats!    

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