From: Mark Crosby (crosby_m@rocketmail.com)
Date: Tue Jan 26 1999 - 14:06:27 MST
---T0Morrow@aol.com wrote:
[CUT - Krugman's controversial claims about "network
externalities]
> Query, though, whether Krugman knows much about
biology. I recall thinking that his criticisms of
bioeconomics were about half-right.
I recall this also ;)
> >Paul Krugman is a very good economist. Robin Hanson
Does "very good economist" mean he knows how to
construct models? Krugman is certainly very good at
being a controversial talking head... The following
might be of interest (it's from the Hayek list)
- Mark Crosby
-------------
Subj: Krugman vs Econ Profession on Hayek as
Economist (quotes)
Fri, 4 Dec 1998 13:43 Greg Ransom Gregransom@AOL.COM
"Friedrich Hayek and Joseph Schumpeter have many
modern admirers .. But were they great economists? I
don't think so. Hayek's stand against the political
currents of his time took courage and has been partly
vindicated by history. But if one asks what
substantive contributions he made to our
understanding of how the world works, one is left at
something of a loss." Paul Krugman, _Slate_, Dec. 2,
1998
[CUT - huge number of quotes from distinguished
economists citing Hayek's insights as essential to
their own work.]
Krugman's Knowledge & Understanding of Hayek's Work,
Nov. 9, 1998
I did have some conceptual bones to pick with
[Krugman], and over the course of the afternoon he
responded with good humor and even at times gave a
little ground -- such as on his long-held opinion
about the speed limits on economic growth. But on
one point, he stone-walled. I objected to his having
written that, before John Maynard Keynes came along,
the world's understanding of recessions was "in a
state of arrested development." Wasn't he familiar
with the Austrian theory of business cycles, as set
forth by Ludwig von Mises, Friederich Hayek .. ? He
allowed that he wasn't, implying that such ideas were
off his radar screen, since they couldn't be
expressed mathematically."
Gene Epstein, "Not Just Academic: Economist Paul
Krugman has won a broad audience; sometimes, he's
even right". _Barron's_. Nov. 9, 1998.
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