Krugman needs a dose of humility. Here's one thought. Imagine his reaction
if the budget for MIT were halved and traditional economic theory was
suddenly found to be imperfect and so flawed that it was no longer
acceptable for teaching. Hmmm. What options might be open to him and
others that promote perfect this and seamless that!!
arthur cordell
----------
From: Michael Gurstein
To: Mike Hollinshead
Cc: [EMAIL PROTECTED]
Subject: Re: Krugman and the Austrians
Date: Sunday, January 31, 1999 2:39PM
Hey,
Maybe in the long run they can all be tenured professors of Economics at
MIT. Ah, retraining....
M
On Sun, 31 Jan 1999, Mike Hollinshead wrote:
>Mike Gurstein just posted a piece on the closure of Devco in Cape Breton
>Canfutures, in which are to be found these two paragraphs, describing
>frictions in the labour market and wealth effects which Krugman claims not
>to exist.
>
>Mike H
>
>>The emotion that greeted Premier Russell MacLellan Friday in his
>belated trip Sydney Mines was raw. Miners have good reason to be
>frightened. Most will not qualify for pensions, despite work records
>stretching back a quarter century.
>
>> They have little education and few marketable skills should they
>decide to move away, and many incumbrances that make moving
>impractical. Most own homes that would not fetch enough for a down
>payment in the robust real estate markets where jobs are said to be
>plentiful. They have family and community ties that make it possible
>to live in Sydney Mines on incomes that would not sustain them
>elsewhere.
>
>
Michael Gurstein, Ph.D.
ECBC/NSERC/SSHRC Associate Chair in the Management of Technological Change
Director: Centre for Community and Enterprise Networking (C\CEN)
University College of Cape Breton, POBox 5300, Sydney, NS, CANADA B1P 6L2
Tel. 902-563-1369 (o) 902-562-1055 (h) 902-562-0119 (fax)
[EMAIL PROTECTED] http://ccen.uccb.ns.ca ICQ: 7388855
