26 Jul 2010

Krugman vs. Sumner

Economics, Financial Economics 3 Comments

It would be nice if at least one of them struck a fatal blow…

I am at Mises U and they’ve got me working my tail off this year [.pdf]; I give a lecture every day except Saturday I think. And tomorrow morning’s 9am lecture is a brand new one for me (on banking), so I have to prepare for that.

Thus, I will not be able to deal with the response-demanding posts from Krugman over the last few days, until later in the week at best. In the meantime, here is Krugman’s thinly-veiled critique of Scott Sumner, and here is Scott’s response.

Reading Krugman vs. Sumner reminds me of the trailer for the movie Predator vs. Alien. The big-voice announcer said, “No matter who wins, we lose.”

3 Responses to “Krugman vs. Sumner”

  1. Anon73 says:

    But is Krugman the alien or the predator?

    What would you say to the idea that Nevada is in the pits now (highest unemployment, bankruptcies, etc) because of a “one-dimensional”, “cheapest state government” economy with no income tax? (Source:http://www.democracynow.org/2010/7/22/reid_leads_in_nevada_senate_race)

    • Yancey Ward says:

      Nevada is in deeper trouble because of it’s lack of diversity in its economy. Gaming and housing are both in the doldrums, thus is the state.

      • Bob Roddis says:

        Right. And both housing and gaming were based primarily upon illusory high housing prices and the apparent but phony wealth generated therefrom.

        Where’s the logic behind the claim that HIGH TAXES cause prosperity? Prosperity makes people tolerate high taxes.