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Paul Krugman criticized Bernie Sanders again last week, arguing that the numbers in his economic proposal don’t work. In particular, he went after economist Gerald Friedman of the University of Massachusetts, arguing that his projected growth figures are far too high to be plausible. Friedman and others fired back, arguing that they were using Krugman’s own models to reach their conclusions! Bob and Tom discuss and enjoy this exchange, and then give the Austrian view of the whole thing.

Krugman Column

“Varieties of Voodoo” (February 19, 2016)

Related Links

“Lack Of Power Corrupts,” by Paul Krugman

“What Would Sanders do? Estimating the Economic Impact of Sanders Programs,” by Gerald Friedman

Contra Columns

“Who’s the Bigger Witch Doctor? Gerald Friedman or Paul Krugman?,” by Bob Murphy

Open Letter in Response to CEA by James K. Galbraith

“Paul Krugman Really Blows It,” by Barkley Rosser

“Krugman and His Gang’s Libeling of Economist Gerald Friedman for Finding That Conventional Models Show That Sanders Plan Could Work,” by Yves Smith

Addendum

The day we recorded, this more detailed analysis (by the Romers) of the Sanders proposals was released.

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Related Episodes (Tom Woods Show)

Ep. 357 The Myth of the Keynesian Multiplier (William J. Boyes)

Ep. 38 Murphy Takes on MMT (Bob Murphy)

The Contra Cruise

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