Cat playing with a mouse — Robert Murphy teaches Paul Krugman macro 101

Bob Murphy takes Paul Krugman to school with some basic facts about the rise in unemployment by economic sector.

Krugman has been an absolute disgrace to science and the economics profession with his deeply dishonest “explications” of Hayekian macro — and I’m happy to see Krugman getting called on it once again.

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Modern economics has not really done its job in making it clear to the public that the price system is the indispensable condition not only of our wealth but of the survival of a large part of the population of the world. — F. A. Hayek

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