Economics

Archive for Economics

Krugman Has Been Onto Us For Years

Here is a Slate article from way back in 1996. I didn’t think he could find Austria on a map back then. In an article trying to explain the persistence of supply-side economics, Krugman wrote: The appeal to the intellectually insecure is also more important than it might seem. Because economics touches so much of […]

Ozone, Krugman, and Landsburg

The White House recently backed off a proposal to tighten ozone regulations. (The proposal was really absurd. It would have required possibly 0.06 ppm, or 60 parts per billion–the equivalent of less than a cup of water in an Olympic-sized swimming pool. The EPA itself said that up to 96 percent of the monitored counties […]

Potpourri

* I don’t care if you’re a Keynesian, if you tell people they should read my blog, you’re very likely to get a link from me. Oh, it’s a post about the Broken Window. I think we’re almost done discussing it…almost. * David R. Henderson posts a funny Samuelson anecdote. (Note: I was making a […]

Post-Game Show

Well Karl Smith and I entered the Econ Cage Match of DEATH (his term), and I’m here to tell about it, so… In all seriousness, if you had meant to watch the debate live and just forgot about it (or if you actually have responsibilities or something), you can still register and watch the recording. […]

Daniel Kuehn: We Keynesians Have Always Been at Peace With Bastiat

I realize I should be more selective in my blogging. I shouldn’t keep focusing on some guy’s blog who just started in a PhD program three days ago. A man of my prominence… heh a little Friday humor for you all. I’m not going to take the time to bring everyone up to speed on […]

Talk About Chutzpah

So Steve Landsburg totally busted Paul Krugman’s bogus critique of Eric Cantor. Specifically, in order to show that Cantor’s insistence that any disaster spending be offset by other cuts violated “basic economics,” Krugman had to initially assume that government fiscal policy was optimal. Neither Krugman nor Cantor thinks that. It is a bit like saying, […]

Have Anthropologists Overturned Menger?

My sources say no. And one of my sources is Radford’s classic article on the economic organization of a POW camp. Even if you’ve read it before, I encourage you to skim it again. His description of how cigarettes quickly became money in his camp fits exactly the standard Mengerian account. Anyway here’s an excerpt […]

The Early Blogger Gets the Worm

In this case, the blogger being Steve Landsburg (and the worm being…). Recently Krugman wrote a post ripping Eric Cantor, which purported to show that standard economic reasoning rejected Cantor’s calls to pay for disaster spending with budget cuts elsewhere. What jumped out at me right away was that Krugman’s blog post relied on an […]