Arthur,
No apologies needed.
Go back and look a the original post. It is all there in Krugman's own words.
Mike H
>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
>>
>>
