Zakaria & Krugman Demonstrate Economic Illiteracy

In the following 1-minute clip, ruling class favorites, Fareed Zakaria and Paul Krugman demonstrate their economic illiteracy, Nobel prizes and Ivy league degrees notwithstanding.  Zakaria cites leftist hero Keynes as justification for any government spending.

"Wouldn’t John Maynard Keynes say that if you can employ people to dig a ditch and then fill it up again,  that’s fine—they’re being productively employed, they pay taxes, so maybe Boston’s ‘Big Dig’ was just fine after all."

So, according to Fareed Zakaria, digging holes and filling them is ‘productive’ work.

Rather than correct Zakaria false claim, Krugman actually ups the idiocy ante by saying that during WWII, we had ‘negative social product spending’ which nonetheless brought us out of recession.

Note to Fareed and Krugman: Digging and filling holes, is not ‘productive’ work. It may appear productive relative to the ‘work’ done by public unions and Federal Bureaucracies. But productive work requires creation of a product that others are willing to pay for.