"Conservative economics" goes the way of the giant ground sloth

Krugman points out something about conservative economic policy recommendations. What do you when the economy is good? Cut taxes. When the economy's in recession? Run around screaming Cut taxes. When there's a surplus? Cut taxes. When there's a deficit? Give extra money to well-connected companies Cut taxes. "Shocking!" writes Ezra Klein. "It's almost as if congressional Republicans weren't interested in policy except as a vehicle for triggering campaign contributions..."

I think this is exactly right. Republicans ran out of actual ideas for improving the economy back in the 1980s. Ever since then they've just been hurling goodies at the same bunch of campaign contributors. There is no "conservative economics" anymore, just handouts.

The thing is, even the business class now realizes that the standard Republican giveaways are just candy - sweet and sugary, but not something you can live on. Democrats are talking about (re)creating an economic framework in which business can grow and thrive, while Republicans are desperately flinging dollar bills at the businessmen screaming "Oh God please don't leave us!" And if the fact that Obama won the upper class is any indication, the dollar-bill-chucking approach is losing its effectiveness.