"A good tax policy obeys the broad principles developed by fiscal experts over the years—for example, neutrality between alternative investments, low marginal rates, and minimal discrimination between current and future consumption." — Paul Krugman.
"The simple fact is that governments have a terrible track record at judging which industries are likely to be important. At various times governments have been convinced that steel, nuclear power, synthetic fuels, semi-conductor memories, and fifth-generation computers were the wave of the future…Of course, businesses make mistakes, too, but they do not have the extraordinarily low batting average of government because great business leaders have a detailed knowledge of and feel for their industries that nobody—no matter how smart—can have for a system as complex as a national economy." — Paul Krugman
The February issue of the American Spectator carries my article about New York Times columnist and Nobel Laureate Paul Krugman. Please check it out here.