Scott Sumner has a new post that explains (sort of) his views on foreign policy.

Honestly, I am not here writing about Scott’s new post to pick on him. Though I can’t say that I agree on every point, the specific foreign policy views he mentioned are reasoned and respectable. But I did find the post amusing when I got to the bottom where he provides a link to a piece by Edward Luce on FT that starts this way:

In most professions, such a litany of errors would prompt a soul-searching. Heads would roll. Schools of thought would close down…

I read these first few sentences and I though that it was going to be something about macroeconomics. Then, when I got the part where the author finally lays it on us what it is all about…

The magic of Mr Trump is that by uniting the elites in revulsion against his abrasive style, he has restored their sense of moral self-belief. Last month, William Kristol, a leading Never Trumper and Iraq war cheerleader tweeted: “Shouldn’t an important foreign policy goal of the next couple of decades be regime change in China?…

How could he have not known of the arrest of one of China’s business stars on the same day he was negotiating a truce with its president?

I burst out with nearly uncontrollable laughter

Given the nature of its beginning and general subject matter of my blog site, if I found an article that started off the same way on a financial media outlet site, I’d be hard pressed to take it seriously, especially the part about heads rolling and schools of thought being shut down.

We’re still hearing about the Philips curve and simulative ZLB among other inefficient theories because no matter how much damage and misery these things cause, they simply will not die their well-deserved death in oblivion. Comparatively, Trump’s embarrassing mishaps are hardly worth mentioning.