Lidt tæsk til Krugman

Økonomen William L. Anderson har begået en god klumme om/imod Paul Krugman, som dog får ros med på vejen for at have iagttaget, at Madoffs store pyramideinvesteringsspil minder en hel del om en moderne vestlige økonomi. Den kan læses hos Mises Institute.

Kruamans problem?

Unfortunately, while Krugman is right in seeing the effects of the financial bubbles, he confuses cause with effect, thus violating the first law that Carl Menger gives in his ground-breakingPrinciples of Economics:

All things are subject to the law of cause and effect. This great principle knows no exception, and we would search in vain in the realm of experience for an example to the contrary.