Krugman, China’s Demographic Crisis, And The Which Way Is Up Problem In Economics – OpEd

I rarely disagree in a big way with Paul Krugman, but I think he misses the boat in an important way in his piece on China’s alleged demographic crisis. Before getting to my point of disagreement, first let me emphasis a key point of agreement.

Krugman points out that many countries, notably Japan, have managed to do just...