Cartoon: Eric Allie.
Paul Krugman is the sort of guy that is easy to ridicule to the point where such efforts are beginning to be considered soft targeting. It is difficult at times to decide whether he is simply a guy who took Mad Magazine to be a serious publication as a kid, or whether he is barking mad.
There are a number of theories around at the moment on how to solve the debt problem and get the economy moving. A personal favorite is retailer Gerry Harvey’s, “Economic Salvation; The Role of Welfare and Stimulus Funded Retail Therapy.”
Paul, on the other hand has come up with the “Theory of Beneficent Disaster,” which some speculate he arrived at when swatting up on Keynes while watching Mad Max, or Mars Attacks. The idea is that disasters, wars, destruction, and especially alien invasions bring about government spending, which boosts the economy. This idea is loved by NYT and MSNBC as it dovetails in nicely with their current belief in benevolent despotism.
Beneficent Disaster has a big advantage over other theories in that it is not necessary for the disaster to actually occur. It can simply be made up as has been done in the ongoing global warming saga as he explains here:
This is hard to get people to do, much better, obviously, to build bridges and roads and healthcare clinics and schools. But my proposed, I actually have a serious proposal which is that we have to get a bunch of scientists to tell us that we're facing a threatened alien invasion, and in order to be prepared for that alien invasion we have to do things like build high-speed rail. And the, once we've recovered, we can say, “Look, there were no aliens.”H/t Andrew Bolt.