Quote Originally Posted by Fuchs View Post
Economic policy should be context sensitive.

An economic advisor can contradict an earlier statement and be totally consistent in his economic science at the same time. Most people don't get that, as they're used to ideology instead of scientific models.
In general I agree with you. Willingness to change one's position as a consequence of following the data is a necessary component of intellectual integrity.

I also agree that economic policy should be context sensitive. In Mr. Krugman's case, however, the context seems to be ... something other than current world wide economic problems.

As to the use of models, having spent a good bit of my early career developing, maintaining and applying some very complex, high fidelity models and simulations, I can assure you they will lie to you faster than a shady used car salesman.

That is especially true when they are used to bolster an ideological position (ala Krugman) rather than evaluate circumstances.