Ep. 157 Krugman’s Model Worked Great — So Long as He Writes the History Books
Contra Krugman with Bob Murphy and Tom Woods
Episode
Krugman surprises us by writing about economics. He tells us that in the wake of the financial crisis, the public and even other economists have drawn the wrong lessons. Contrary to what you’ve heard, says Krugman, the Keynesian macro model did great during the crisis, while microeconomics is overrated. Well yes, we agree that Krugman’s model did great…if we overlook all the times it blew up in his face.
