Wednesday, August 31, 2011

Paul Krugman Schooled on Ricardian Theory

Steve Landsburg takes Paul Krugman to the woodshed in: Panglossian Economics:

Notice that Krugman goes beyond implicit insistence that everything today is perfectly hunky-dory; he says that it makes no sense to believe otherwise. In other words, he’s really really sure of this. I await his salute to the Tea Party for its role in bringing us to this state of Nirvana.

The Tea Party: just a switch to beat Ricardian theory into the head of a Nobel laureate.

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