Steve Keen en Paul Krugman botsen

Sorry, that was a belated April Fool’s joke. He hasn’t, of course—though there has been an apology of sorts from Nick Rowe, which is duly noted and accepted.

The best Krugman could manage is the following update to his original diatribe “Oh My, Steve Keen Edition“:

Update update: Ah, so Keen didn’t mean DSGE — a term that refers only to New Keynesian models — when he said DSGE; he meant New Classical, which he somehow regards as the underlying principles for models that aren’t New Classical at all. OK. Anyway, enough of that. I’m all for listening to heretics when they offer insights I can use, but I’m not finding that at all in this conversation, just word games and continual insistence that the members of the sect have insights denied to us lesser mortals. Time to move on.

Gee, thanks Paul. So I’m playing word games, am I—and you’re not? Let’s take a closer look.

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