This Forbes magazine piece by Bill Frezza is as close as one gets to a performance worthy of Jonathan Swift in the present-day economics discourse. Here is a taste of Frezza’s satire of Krugman’s response to Hurricane Irene:
… the celebrity economist offered up his judicious advice. â€œWe cannot wait for another big storm to tear up the populated eastern seaboard. President Obama should use his emergency powers to make sure we maximize the economic benefits of the opportunity Mother Nature handed us.â€
â€œFirst, we must demand that utility companies hold off restoring power to the millions of homes without electricity until every last bit of food stored in refrigerators and freezers has gone bad.â€ A mathematical dissertation followed describing the multiplier effect wherein $1.48 of economic activity would be generated by every $1.00 in spoiled hamburger replaced. â€œAny first year economics graduate student can tell you what a boon all that spoiled food would be to the struggling grocery and farm sectors.â€
If satire is the most effective rhetorical weapon against a bad theory, then more of this sort of writing is what we need.