The NRO has some of its columns in a list of "Best of NRO Financial 2005." One of the columns is "Voodoo Volckernomics" by John Tamny. In keeping with "Best of" the theme, here's a "Best of Responses to NRO Financial 2005":
Brad DeLong: Why Oh Why Can't We Have a Better Press Corps? (I've Got to Stop Saying "National Review Has Reached Its Nadir" Department): Wow! I've got to stop saying, "National Review has reached its nadir." This is worse than anything I've seen before, worse than I had imagined possible. ... But the point isn't to provide or critique economic analysis, is it? The point isn't to inform the readers of National Review, is it? The point is that Paul Volcker--chosen by Republican Richard Nixon's staff to be Undersecretary of the Treasury for Monetary Affairs, chosen by Republican Arthur Burns to be President of the Federal Reserve Bank of New York, chosen by Republican Ronald Reagan's staff to be Chairman of the Federal Reserve Board--has written something inconvenient for the Bushies inside the White House. And so National Review undertakes the mission of trying to murk the waters with clouds of ink. And in this squid-like task, actual knowledge of the economy or of economics is a positive hindrance. The less the writer knows, the better. Enter John Tamny. ...
Remember, this is part of their "Best of" list. You should see the "Worst of NRO Financial 2005." That aside, I want to highlight the statements:
But the point isn't to provide or critique economic analysis, is it? The point isn't to inform the readers of National Review, is it? ... The less the writer knows, the better.
NRO Financial has writers discussing economics who are not professional economists, many cannot even read the professional economic journals and have little idea of the theory or evidence pertaining to the issues they are writing on. Try to find Tamny's qualifications as an economic analyst on the NRO web site or anywhere else. The goal is generally to sell a point of view, or as Brad notes, to muddy the waters rather than present a position based upon a consistent theoretical structure and the corresponding econometric evidence.