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Krugman vs. Murphy

In case you missed it last week (or if you have better things to do than follow a debate between economic professors), Paul Krugman – Nobel Laureate and the New York Times’ answer to Justin Bieber – devoted a blog entry to discussing the Austrian Business Cycle Theory as explained by professor Robert Murphy.

While I was not a huge fan of the original piece by Murphy, his rebuttal to the Krugman blog entry is excellent, and  a must read for anyone with an interest in the Austrian School of Economic Thought.

Krugman’s blog entry:  Great Leaps Backward

Murphy’s reply:  My Reply to Krugman on Austrian Business Cycle Theory

 

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