'Zombie' Economics Have Eaten Rubio's Brains

Paul Krugman thinks Republicans need to stop peddling discredited ideas
By Kevin Spak,  Newser Staff
Posted Feb 15, 2013 10:44 AM CST
Marco Rubio has some old, discredited economic ideas, Paul Krugman argues.   (AP Photo/J. Scott Applewhite)
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(Newser) – Marco Rubio is undoubtedly a rising political star—heck, TIME anointed him the "Republican Savior" on a recent cover. "What we learned Tuesday, however, was that zombie economic ideas have eaten his brain," writes Paul Krugman in the New York Times. A "zombie idea" is Krugman's term for a theory that has been proven wrong, "but won't stay dead because it serves a political purpose, appeals to prejudices, or both."

So there was Rubio in his response to the State of the Union, arguing that "reckless government policies" caused the housing crisis—though government-sponsored lenders played virtually no role in the subprime boom—and that government borrowing "is one reason why many businesses aren't hiring"—even though our interest rates have remained low and countries that slashed spending during financial crises have seen unemployment spike. "Zombies 2, Reality 0," Krugman writes. Sure, Rubio's just echoing mainstream GOP thinking. "But that, of course, is what's so scary." Click for his full column. (Read more Marco Rubio stories.)

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