Wednesday, October 31, 2007

Krugman bashing part III (fg)

Ups....hard times for Paul Krugman. First, his most recent book "The Conscience of a Liberal" was heavily critized by commentators like David Kennedy. Amv posted an article on the review here in this blog. A new paper by Edward Nelson and Anna Schwartz does again mischief for Krugman. The authors critize Krugman's essay "Who was Milton Friedman?". They remark:
Paul Krugman is a respected trade theorist. But he does not speak authoritatively on subjects on which he has no expertise. Monetary economics is not his field of expertise. Krugman’s research background does not qualify him as an authority on Milton Friedman’s work. Krugman’s scholarly publications rarely mentioned Friedman and, when they did, they acknowledged the contributions of Friedman and monetarism in a way that contradicts his essay on Friedman. Friedman’s reputation is intact despite Krugman’s deplorable efforts to denigrate him and his contributions.