I would like to welcome readers to my new blog, Krugman-in-Wonderland, dedicated, of course, to Paul Krugman and the Keynesian and politically-partisan missives he sends almost daily from his perch at the New York Times and elsewhere. In this blog, I will have my own comments plus links to some of Krugman's critics, and especially the criticisms of the Austrians. (The best of the Austrian critics is NOT yours truly, but rather Robert Murphy, who often takes Krugman apart on the Mises Daily page.)
It will take a few days to get this blog up and running, as I do have a day job. However, I do hope you will enjoy some good economic sense as I try to provide an antidote to the Keynesian mishmash from Krugman that masquerades as "good economics."
Of course, there will be the obvious question: Why is a nobody like me taking on a Nobel Laureate, a Princeton University faculty member, no less? True, the odds are not exactly in my favor. Krugman is one of the foremost public intellectuals in the country and I, well, am not. Krugman has his doctorate from MIT and has a Nobel Prize. I have my doctorate from Auburn University and have no prizes.
Nonetheless, over the years I have found that it is not as hard to answer Krugman as one might think. First, he is a True Blue Keynesian, and plenty of people before me have taken the Keynesian paradigm apart. Second, Krugman has this way of trying to rewrite recent history, and he stubbornly does not let the facts get in the way. Thus, he makes himself to be a pretty easy target.
To quote "The Godfather," this is business, not personal. I have met Krugman only once and he seemed to be pleasant enough. My beef with him is professional; he writes bad economics, and I want to set the record straight.