Paul Krugman, a Nobel prize winning American economist has been writing a column for the New York Times. He's an unapologetic Keynesian. Here are a few excerpts from an 8 page article he wrote. Although SydneyDev has been arguing in the health care thread, if I didn't know any better, I would think that Paul is pointing his finger at him. Sydney's contorted logic exemplifies the failure of the markets. The Chicago School has clearly been discredited as Krugman so clearly points out. Krugman is less a prophet than a seeker. I honestly don't know where US Economists led so blindly to the cliff by the likes of Milton Friedman will go from here, but their failure is clear for all to see.