The Electric Commentary

Monday, January 24, 2005

Tom Maguire does some math

on Social Security. Plus he rips on Krugman:

But hold on! Didn't Paul Krugman just ask for a "reasonable" estimate, and throw out 20% to 30% in Britain as a comparison? Based on the CBO number and some mental math, we came to 7%, which was quickly confirmed by a more elaborate calculation. Why, oh why is Prof. Krugman off by a factor of 300% to 400%? How can it be that he is misrepresenting the intelligence and hyping his case?

You've got me. Possible answers might include: (a) this was too complicated a calculation for a prospective Nobel Laureate; (b) this was an easy calculation but not a helpful result for polemical purposes; or (c) his beer was warm, and all the folks in Princeton speak English, so he thought he was in Britain.

Enjoy the weekend - pick (a), and put yourself up for a Nobel Prize.


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