Modern theoclassical economics has made an art form of fake empiricism produced by fake think tanks that shape their product to please their corporate founders/donors. The products may look like science, but it is simply dogma misrepresenting reality in an intellectually dishonest manner.His focus is on Ecuador, which has run in exactly the opposite direction of the policy recommendations of groups like Heritage, which advocates Washington Consensus neoliberal policies. The result is a 7.8% economic growth rate, 4.1% unemployment (the lowest in Latin America) and even more impressively, economic growth that is for the benefit of not just the richest members of society, but also the others. Black asks how Heritage handles the case of Ecuador? Naturally they try to spin it like it's not too impressive.
Here Krugman discusses recent data they offered to the Senate that was false and deliberately misleading. Here Krugman discusses another recent bit of fraud from one of their white supremacist types. Sadly people continue to take them seriously. That's the power of money.