The Nobel Prize-winning economist, Paul Krugman, writing in his New York Times blog, sums up the dilemma facing the more thoughtful voters very well.
May 4, 2010, 3:27 pm
Yglesias is right,. For sure, Gordon Brown — like the Rubinites* here in America — made the great mistake of buying into the promises of high finance. But is there any doubt that a Tory government would have done the same?
And I understand the sense that Labour has been in office too long. If I were British, I might well consider voting Lib Dem
But in the current crisis, Brown’s policies have been sensible, whereas the Tories wanted to slash spending in the face of recession, which would have been disastrous. And The Economist agrees — then endorses the Tories.
Is The Economist of the belief that there will be no future crises? That this gigantic failure of judgment in the face of a defining moment for economic policy offers no hint about how well the Tories will perform in dealing with other issues?
It’s utterly bizarre.
It’s frighteningly bizarre, I would say.