“Steve Keen Refuses to Back Down,,” Finance News Network, August 6.
Lord Keynes, since Steve Keen stated in the interview that he wants to rebut Paul Krugman's End This Depression Now!, I thought I might ask you a few questions.1.) Do you still consider Paul Krugman an economist that you respect?2.) Do you think that Steve Keen really ought to rebut Paul Krugman's book? I personally think that he ought to work on what he hopes to be his magnum opus (which has the horrible working title of "Finance and Economic Breakdown") in order to achieve his desire of overthrowing the mainstream orthodoxy. Taking on Krugman for another round can be dealt with in a footnote or an endnote or something, preferably through mathematics...
Krugman is still one of the better New Keynesians, for what they are worth.I suspect the End This Depression Now book will probably have much in it against mainstream neoclassical theory.
"Taking on Krugman for another round can be dealt with in a footnote or an endnote or something, preferably through mathematics..."Do that and you lose.Krugman is an ex-economist and current politician. It is not an academic argument. It is a political one.Krugman lightweight appeasement ideas will at best restore the status quo ante and line us up for the next massive failure.