tag:blogger.com,1999:blog-8381613.post5668684221318651820..comments2023-04-03T19:10:54.088-04:00Comments on Critiques Of Libertarianism: Krugman wins his Nobel PrizeMike Hubenhttp://www.blogger.com/profile/01371469964446567690noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-8381613.post-80011784207410374932008-10-15T05:23:00.000-04:002008-10-15T05:23:00.000-04:00I read those 3, and they're saying pretty much ide...I read those 3, and they're saying pretty much identical dogmatic things.<BR/><BR/><A HREF="http://www.marginalrevolution.com/marginalrevolution/2008/10/paul-krugman-on.html" REL="nofollow">The MR response is here.</A><BR/><BR/>I'm not an economist, but I do notice several things about Austrian economics (as presented by Mises and Rothbard.)<BR/><BR/>First, it is not scientific: it is prescientific. There is no measurement, and any corellation with the real world is by mere assertion of opinion by Austrians, rather than some more objective measure. If Austrians make the same assertions, it is because they have the same sorts of ideological biases that would cause all Christians to assert Satan as a cause of evil. Not because they objectively observe some positive cause.<BR/><BR/>Second, there is a huge cognitive dissonance between Austrianism and scientific model-based economics. If somebody believes arguments from both camps, I'd say that they are providing good evidence that they don't really understand much economics.<BR/><BR/>It would greatly amuse me to see somebody turn Austrian economics upside down by simply adopting assumptions that are not ultra-right wing. Cohen did that with much of libertarian rights theory, and it could be done with Austrianism.Mike Hubenhttps://www.blogger.com/profile/01371469964446567690noreply@blogger.comtag:blogger.com,1999:blog-8381613.post-37803060672702129492008-10-14T14:12:00.000-04:002008-10-14T14:12:00.000-04:00For what it's worth, a MarginalRevolution commenta...For what it's worth, a MarginalRevolution commentator suggests <A HREF="http://mises.org/story/630" REL="nofollow">this</A> and <A HREF="http://mises.org/story/103" REL="nofollow">this</A> and <A HREF="http://mises.org/misesreview_detail.aspx?control=53" REL="nofollow">this</A> in response to Krugman's critique of Austrian business cycle theory.<BR/><BR/>(ht: Tyler Cowen <A HREF="http://www.marginalrevolution.com/marginalrevolution/2008/10/paul-krugman-on.html" REL="nofollow">here</A>)Glenhttps://www.blogger.com/profile/14661650090485723755noreply@blogger.comtag:blogger.com,1999:blog-8381613.post-14546792191187810572008-10-14T00:42:00.000-04:002008-10-14T00:42:00.000-04:00I'm a big fan of Paul Krugman. I'm reading his boo...I'm a big fan of Paul Krugman. I'm reading his book "Conscience of a Liberal," his retort to Barry Goldwater's "Conscience of a Conservative."<BR/><BR/>In it he talks about The Great Compression, something that America could do with right about now.<BR/><BR/>Markus<BR/>AustraliaMarkushttps://www.blogger.com/profile/13305396594089547750noreply@blogger.comtag:blogger.com,1999:blog-8381613.post-11754372455265037792008-10-13T15:38:00.000-04:002008-10-13T15:38:00.000-04:00What do you think of Krugman's views on Comparativ...What do you think of Krugman's views on <A HREF="http://web.mit.edu/krugman/www/ricardo.htm" REL="nofollow">Comparative Advantage</A>?Glenhttps://www.blogger.com/profile/14661650090485723755noreply@blogger.com