Apologies to Krugman. You are right. He is clearly one of the most open of
the economists and seems most willing to suggest that there may be
'imperfections' in the theory.
arthur cordell
----------
From: Edward Weick
To: Cordell, Arthur: DPP; Michael Gurstein; Mike Hollinshead
Cc: [EMAIL PROTECTED]
Subject: Re: Krugman and the Austrians
Date: Monday, February 01, 1999 1:15PM
I must be missing something. I haven't read much of Krugman, just "Peddling
Prosperity", a book of essays called "Pop Internationalism" and a few of his
columns in "Slate". It's never occurred to me that he is assuming a
frictionless or seamless world. I would characterize his most consistent
message, as much as I've read of him, as: "Cut through the bullshit and find
the facts. They may not support your argument." He has a way of
demonstrating that, quite often, the facts have not been supportive.
Ed Weick
>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
>
>
