Tuesday, January 25, 2011

EPJ's Role in the Murphy-Krugman Debate

There's been a heavyweight battle going on between Nobel Prize winning economist Paul Krugman and Austrian school economist Robert Murphy, over business cycle theory.

Murphy sent me a private email informing me of EPJ's role in the debate:
...feel free to mention that I probably never would have even checked the data on manufacturing versus construction (to bust Krugman), if I hadn't known from reading EPJ that the sectoral data match up with Austrian business cycle theory quite well. I.e. the reason I didn't take Krugman's word for it, was that you were blogging just the opposite a few months earlier.
To get up to speed on the debate, you can read Murphy's latest salvo here. (Note: As Krugman would say, it's wonkish.)

1 comment:

  1. It sometimes takes a village to expose an idiot.