Saturday, January 10, 2015

Is Krugman open to debate?

So I used to post some comments on Krugman's blog, but over the last few years when I post something in it doesn't get published. The Kman likes conversation, provided nobody calls him up on his bs. So in his critique of heterodox economists he said:
"So if you [presumably heterodox economist] go around claiming that model-oriented, quantitative economics gave rise to austerity mania, you’re getting the story all wrong. Worse, you are in effect covering up for the austerians’ intellectual sins."
My comment was:
"Have the courage to publish my comments (which have been banned for years now). If you claim to be a serious person open to debate. Seriously, heterodoxy is NOT about model-oriented, quantitative economics giving rise to austerity. It is about a model that against logic and evidence suggests that the market returns to its natural rate unless there are imperfections. And in that sense, even New Keynesian like you that defend more fiscal stimulus miss the point."
Let's see if he publishes it.* Note that my point is that there are plenty of formalizations of heterodox economics [not all the same; my preferences are well known for readers of the blog, namely: effective demand in the long run with some sort of supermultiplier]. There are some heterodox authors against formalization, but also some neoclassicals (some Austrians, in particular). But the main differences between heterodox and orthodox economists are about causality and NOT about formalization. On debate and monologue in economics see this.

PS: If you want a formalized growth model as an example go here. For one on inflation here.

* Update: Shaming does work. It was published.


  1. I have published acerbic, critical, cynical and downright mean comments there. Everything gets published. Comments that have too many links get rejected automatically. I don't think PK has time to screen comments carefully except to scan for language which is probably flagged for him.

    1. Mine used to be published too Peter. But not after a while. I don't think it's a coincidence.


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