Published Wednesday, July 30, 2008 by William L. Anderson
In a recent column, Paul Krugman tries to explain the "Bush bust." Instead of clear, cogent economic theory, we are fed a mass of contradictory ideas, a bit of political partisanship, and explanations that simply make no sense. Austrian economists hold that there are certain principles which can be understood and which are based upon immutable laws of human action. Unfortunately, in Krugman's world, events happen with no real explanation.
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Booms, Busts, and "Krugpot" Economics (2.29 MB)