Bob Murphy, an Austrian Economist, Challenges Paul Krugman to a Debate (economic, government)
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Austrian economists are just Utopian visionaries. Their model has never been attempted. It only exists in theory. At least Keynesian economics have been proven in history to work.
Bob Murphy is clueless. Paul Krugman would never waste his time on him.
Why is this Murphy fellow posting videos on a web site for free on the government created Internet. Where does this socialist freeloader get the nerve?
The first statement is outright false. Before there was a central bank there were numerous boom and bust cycles, the most famous was the long depression after the civil war or the 1907 banking crisis (the crisis that created the federal reserve). That is evidence though which Austrians despise, and not praxeology...which for some reason they think supersedes proof, mathematics, and empirical testing.
The first statement is outright false. Before there was a central bank there were numerous boom and bust cycles, the most famous was the long depression after the civil war or the 1907 banking crisis (the crisis that created the federal reserve). That is evidence though which Austrians despise, and not praxeology...which for some reason they think supersedes proof, mathematics, and empirical testing.
You probably work for the FED, don't you? You fricking commie!!!
The first statement is outright false. Before there was a central bank there were numerous boom and bust cycles, the most famous was the long depression after the civil war or the 1907 banking crisis (the crisis that created the federal reserve). That is evidence though which Austrians despise, and not praxeology...which for some reason they think supersedes proof, mathematics, and empirical testing.
It would likely be even worse now, because back then there was a massive welfare program called the General Land Office where the government would give anyone free land provided they met certain conditions reimbursed the government for survey costs and fees.
At one time Keynesian economics was unproven,so there goes that silly premise.
Funny. Austrian economics was first floated and purported by Bastiat and Say in the mid 1830's through the 1870's. Some 70-100 years prior to Keynes' publication of GTEIM in the 1930's.
Austrian economists are just Utopian visionaries. Their model has never been attempted. It only exists in theory. At least Keynesian economics have been proven in history to work.
Bob Murphy is clueless. Paul Krugman would never waste his time on him.
Too political for my taste. The way he describes Austrian economics is fairly reasonable; however, he is intellectually dishonest in his criticism of keynesianism. He doesn't give it a fair shake, so I doubt any serious economist would want to deal with strawmen arguments.
I don't take anyone seriously who says they "Believe in Austrian economics." It's not a religion.
Last edited by Cletus Awreetus-Awrightus; 11-28-2011 at 09:35 AM..
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