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Monthly Archives: January 2011
The Importance of Capital Theory? Supply-side Economics With a Vengeance
From Brad DeLong’s weblog (where it came from Mark Toma), I was directed back to Paul Krugman’s NYT blog, where he comments on a 2008 blog post by Robert P. Murphy on the Austrian capital theory. I am not an … Continue reading
General Equilibrium Models are Not Utopian
Many are the times where use of general equilibrium methods is being met by harsh criticism. Mostly it happens when the associated model results concerning some policy reform do not provide politicians or voters with what they want or had … Continue reading
The Fiscal Multiplier Wrestling Marathon
Welcome to the academic wrestling match of the recent years. In the left corner, Paul Krugman (with assistance from Bradford DeLong)! In the right corner, John Cochrane (with assistance from Eugene Fama)! They will fight over the size of the … Continue reading
“Dr. Doom” or “Mr. Lucky”?
A colleague of mine recently directed my attention to this interesting article from the January 9 edition of the Boston Globe: “That guy who called the big one? Don’t listen to him.” In the article, journalist Joe Keohane describes the … Continue reading
Posted in Economists, Macroeconomics
Tagged Christina Fang, Financial crisis, forecasting, Jerker Denrell, Joe Keohane, Nouriel Roubini
3 Comments
The Inflation Fallacy and central banking debates in the US
Among my favorite contemporary academic economists is N. Gregory Mankiw. I have always found his academic writings very lucid and to the point. I was once again reminded of this today, when I stumbled over some debates about abolishing the … Continue reading
Posted in Economists, Macroeconomics
Tagged central banks, Economic schools, inflation, Milton Friedman, money, N. Gregory Mankiw, Paul Krugman, Quantitative easing, Ron Paul
2 Comments
Dead economists can’t analyze the present
Of course they can’t. Yet, many pick up some dead economist and speculate what he or she would have thought about some current economic incident or policy. For example, even though a whole industry is still devoted to try figuring … Continue reading
Krugman on Friedman in 2007
I recently stumbled over Paul Krugman’s 2007 article “Who was Milton Friedman?” from the New York Review of Books. In his otherwise very appreciative and balanced biography (not according to all), Krugman writes the following when commenting on Friedman the-free-market-advocate-rather-than-academic-economist: … Continue reading
