You read that right: Paul Krugman, the Nobel Prize-winning “we need more stimulus” Keynesian economist is refusing to allow a $72,000+ donation to be given to a food bank in New York City. Why?
Because the only stipulation is that he debate “End the Fed” Austrian-school economist Bob Murphy in public before the donation—built by pledges from Murphy’s own following—is released.
The offer has been standing for several months, and Krugman is well aware of it. He even calls Murphy’s writing “the best exposition I’ve seen yet of the Austrian view that’s sweeping the GOP.” But so far he refuses to defend his own position in a public debate.
In doing so, he’s refusing that $72k (and growing) donation.
See Tom Woods on Murphy’s contributions in the interim:
Watch economist Robert Murphy take apart Paul Krugman. Oh, wait, you can also see him do it here. And here. And here he hits another Keynesian. In this piece, Murphy writes: “In this short commentary, Krugman has outdone himself. He manages to blend in a combination of (a) blatant, demonstrable falsehood, (b) misleading innuendo, (c) attacks on the motivations of those who disagree with him, and to top it off (d) a hypocritical implied criticism of the very policies he himself supported.” And here Murphy smacks down Krugman on the Fed and employment data.
And that’s just this week.
Now check out KrugmanDebate.com.