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Politics : View from the Center and Left
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To: Steve Lokness who wrote (191764)6/16/2012 3:32:56 PM
From: JohnM  Read Replies (1) of 543755
 
Last Tuesday the professor was discussing differences between the economics of the US; comparing Austrians with mainstream Chicago School economist. After much discussion, I asked where Krugman stood; his answer, swear to God was that "Krugman is crazy". End of discussion.
Which tells you tons about where your guy was/is. There are two mainstream schools of economic thought in the US, sometimes called the saltwater and freshwater schools. The saltwater are, of course, in the west and east coast and are largely, in some rough degree, Keynesian. As always, there are arguments within arguments but they are generally, not freshwater types. Those are rational actor/efficient market types.

In that breakdown, Krugman is a very influential member of the saltwater group. If I understand the arguments between members of the two schools, they are classic no holds barred academic squabbles. Each is quite unwilling to take the other seriously, save they must. You just caught your guy playing fast and loose with the conflict.
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