I Dare Paul Krugman To Debate Austrian Theory

by Jeff Harding The Daily Capitalist

Previously by Jeff Harding: The Fed Speaks: SeptemberFOMCReport

How much would it be worth to you to see arch-Keynesian Paul Krugman debate a top-notch Austrian theory economist on business cycle theory?

Krugman has prattled for years about Austrian theory being a flawed dead-end of economics. My guess is he has never read anything by Mises, Hayek, or Rothbard, the greatest scholars of the Austrian School. He doesn’t understand it in anyway; I have read his critiques and they are uninformed.

Robert Murphy, one of the bright young lights of Austrian theory economics, has challenged Krugman to a debate. Now let me say others have tried to draw Krugman out, but he won’t do it. Murphy, who got his Ph.D. at NYU, has made an offer of debate that Krugman will be hard pressed to refuse. Here’s the challenge:

When Krugman agrees to debate Murphy at the Mises Institute, $100,000 will be donated to the Fresh Food Program of FoodBankNYC.org, a non-profit dedicated to feeding the hungry of NYC .

Murphy is soliciting donations for the debate through The Point, a website that hosts campaigns. Launched only 4 days ago, they already have raised $22,000. I just pledged $100. If Krugman doesn’t accept the challenge, I will not be charged. If he does, I get a charitable donation deduction to the Food Bank of NYC.

Here is where you can donate: Murphy-Krugman Debate. Please join me. This will be money very well spent.

Here is a video about it:

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