Krugman Back to Being My “Favorite Blogger”
[UPDATE below.] I don’t know when I will learn… This Krugman blog post on Depression-era debt literally made my jaw drop. After chronicling how the federal debt went up under Herbert Hoover–thus making the “Hoover was a liquidationist Hayekian” thesis a bit awkward–Krugman then said, “OK, um, I owe Bob Murphy an apology. He set […]
Read moreKrugman and the 1930s: One Step Forward, One Step Back
In his recent NYT op ed Krugman reaches a new low in his distortion of the 1930s: We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, […]
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