Paul Krugman has lost the plot

money is like a social network

I think Professor Krugman should look into the sociological basis of economics more (much as e.g. Max Weber did in “Wirtschaft und Gesellschaft”).

I don’t think that one sentence quoted above is wrong, but going by Professor Krugman’s title to his op-ed piece, he apparently does.

Yet my hunch is: Most Americans won’t get this — because most Americans think “society” is an American thing (and that the rest of the world, being “unamerican“, is simply uncivilized).

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