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Krugman (Keynesian) Vs Murphy (Austrian)

  • 28-10-2010 3:23pm
    #1
    pablo_escobar
    Closed Accounts Posts: 240 ✭✭


    Dr. Robert Murphy has challenged Paul Krugman to a debate about Keynesian vs. Austrian business cycle theory.

    https://www.youtube.com/watch?v=6cFXRFlvE3s


    Just for those interested, they need donations ;)


Comments

  • #2
    Jayd0g
    Registered Users, Registered Users 2 Posts: 833 ✭✭✭Jayd0g


    Would be interesting to see and a novel idea.

    There's a thread about this here already:

    http://www.boards.ie/vbulletin/showthread.php?t=2056072143


  • #3
    Sand
    Registered Users, Registered Users 2 Posts: 12,996 ✭✭✭✭Sand


    I have to say I'm not particularly enamoured by these sort of personalised debates, I think its bad for political and economic thought. Krugman is a very smart guy, but I think hes been quite dishonest in that hes freely admitted Ireland is in such a bad way that it has no choice except to cut and hope, yet he then cites Ireland to try prescribe solutions for the US - the tooth and nail bitter squabbling between the Reps and Dems is his battlefield.

    However, I understand his columns are a collaborative work (interview I read in Newsweek or Time I think) - he makes the first draft, based on economic argument. His wife, who is apparently a committed Democrat, edits them to ensure theres a heavily Democratic slant. So its hard to say how much of his published views (in the sense of columns) are his own work, and how much is the slant and editing of his wife.

    There is a question of if people are going to enter these debates honestly? Are Krugman and his "fans" (Jesus...) going to recant their thinking if Murphy outscores Krugman? Is Murphy and his "fans" (Jesus on a pogo stick...) going to recant their thinking if Krugman outscores Murphy?

    More than likely theyll enter with closed mindsets, treat it like some sort of competitive sport and assume that so long as they never accept they lost, they cant lose.

    It wont progress thought or understanding or a solution a single iota. At best it will be used for chest beating by "fans" of either combatant, or more likely both.


  • #4
    simplistic2
    Closed Accounts Posts: 331 ✭✭simplistic2


    Theres no debate really Keynesian economics is astrology and Austrian economics is astronomy.


  • #5
    ArtSmart
    Registered Users, Registered Users 2 Posts: 5,614 ✭✭✭ArtSmart


    simplistic2 wrote: »
    Theres no debate really Keynesian economics is astrology and Austrian economics is astronomy.

    Phew. thank goodness, cos Ireland's star sign is Uranus.


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