Krugman Also Gets It Wrong
Posted in Not So Fast! on 9 September 2009
Stats: 1,701 views and 5 Comments In 1998 Paul Krugman wrote an attack on the Austrian theory of the business cycle (ATBC), saying that it was about as credible as the “phlogiston theory of fire.” Not surprisingly, he managed not only to mislabel the ATBC (calling it a “Hangover Theory”) but also proved incapable even of ...
Posted in Not So Fast! on 9 September 2009
Stats: 1,701 views and 5 Comments In 1998 Paul Krugman wrote an attack on the Austrian theory of the business cycle (ATBC), saying that it was about as credible as the “phlogiston theory of fire.” Not surprisingly, he managed not only to mislabel the ATBC (calling it a “Hangover Theory”) but also proved incapable even of ...
