Even though free-market fundamentalists have been wrong about nearly everything, Krugman says they dominate political thought now more than ever. He points out that everything the right said about Obama’s economic policies was wrong, including warnings that interest rates would rise along with a hyper-inflation. They were also wrong about politics abroad, including idealizing Ireland as a shining example of sound economic policies. Krugman says it is one thing to stay true to your ideals and goals, but it is entirely another to open the door to what he calls zombie ideas because they could kill the economy.
Krugman is a New York Times columnist.