Thursday, November 6, 2014

Krugman busted on another fraud

Russ Roberts  nailed him and saved me the work. No charts needed. Krugman puts up a chart of dots, and even after doctoring the data, there is no compelling linear trend between government spending and GDP, nor any reason to find cause and effect.  The Krugman calls it a compelling case, and the New York Times, the liar rag of all time, prints the column.  Result? Economists have to spend time and effort to restore the adjective 'science; to their profession.

I have no idea why Krugman, Simon Wren Lewis, and a few others are even allowed near the classroom, and students need to beware of wasting time in Econ 101. Student should struggle through a complete series on probability and statistics, calculus, and maybe a course on linear differential equations; then take an upper division class in Econ. 

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