Paul Krugman’s piece, Chicago Calvinball, is probably too inside economics for most people’s interest.  However, it does give evidence about my thesis that the Chicago School of economics is alive and well and still corrupting economic thinking.

Here is the key quote from the article that suits my purpose.

Reading Noah Smith reading John Cochrane solidified a thought I’ve been grasping at for a while: the extraordinary lengths to which the Chicago School is going to avoid a straightforward interpretation of the mess we’re in.

I think this issue of the Chicago School is important.  I conjecture that some of Obama’s obstinacy about taking the strong economic measures he should have taken come from the pernicious influence that the Chicago School has on his thinking.