McCloskey and Krugman on Friedman – “How do you know?”

This is no doubt a gem, particularly if you want to know about economists up close.

I’m cooking up a list of the ten toughest questions in economics.  How do you know is one.

A die-hard Keynesian has a different take on Friedman.  But lost in the Keynes v Friedman debate are the distinctions about the monetary system then (the gold standard) and now (fiat); or even the quality of democracy, which is why even Keynes shuddered at how his ideas got twisted by the Communists.

I’ll take Deirdre over Paul just about any time.  How do I know?  I don’t but I suspect Paul likes to exaggerate or look only where his Keynesian headlights shine bright.

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