==> The erudite von Pepe notified me that John Taylor has been blogging about Summers/Krugman as well; here’s a good example.
==> Here’s me with Tom Woods talking on this topic.
==> Speaking of Summers/Krugman, apparently the Onion anticipated their stance.
==> Mark Spitznagel is not on the Bitcoin bandwagon.
==> Danny Sanchez has a long article on Mises, concerning “mind and method.”
==> Oakland residents turn to private “cops.” The NPR coverage is pretty funny.
==> Salim Furth decomposes (some of) the European data and argues that Paul Krugman’s frequent scatterplots–in which Krugman tries to show the “obvious” negative effects from cutting deficits–are actually showing how bad raising taxes can be in a recession. (HT2 Landsburg) If we break out the data into spending cuts versus tax hikes, then you see a different story. Note, this is exactly what I said, when Krugman was going ballistic about the phony-baloney deficit hawks who didn’t endorse the French tax hike. Remember Krugman said there was no evidence that raising taxes in a recession would hurt growth? Oops.
==> Bob Roddis grabbed a funny screen shot of the ads he saw at Mike Norman’s blog.
==> An interview with me about teaching at Mises Academy.
==> Nick Rowe lets loose with some blog rage:
Something somewhere went very deeply wrong with the way macroeconomics is done in some places. I do not know why it went wrong like that.
This is not about politics or ideology. Explaining everything in terms of politics or ideology is one of those witchcraft explanations that only ignorant people use, who practice witchcraft themselves, and so think everyone else is a witch. I am pretty sure I am more right-wing than Steve [Williamson] is. This is about how we do economics.
This is not about sticky or flexible prices either. With sticky prices, the truck would fall slowly if it went over the edge of the cliff. With perfectly flexible prices it would fall instantly if it went over the edge of the cliff. But it could still fall over the edge of the cliff, regardless of whether prices are sticky or flexible (unless prices were completely stuck, of course, because then the truck can’t move at all).
And it’s not about who is more intelligent either. Steve probably is.
I despair of my ability to explain to Steve why I think his post is so horribly wrong. Why can’t he just see it! It’s obvious to my eyes. It’s staring me straight in the face!