It takes a lot of balls for a Keynesian to defend Hoover in an article.
It also takes a lot of balls for anyone to defend Hoover in an Austrian journal.
And while the Review of Austrian Economics is primarily staffed by softies in Fairfax, Virginia who suffer a Keynesian every once in a while, it takes testicular fortitude of the highest order for a Keynesian to try to publish in an outlet run by those crazy Alabaman Austrians.
And yet I, your host at F&OST, have tackled all three of these feats in the most recent issue of the Quarterly Journal of Austrian Economics.
UPDATE: And Vedder and Gallaway have a response too. I'm sure one of them was one of my referees. I plan on writing a reply. I may post my response to the referee report here if anyone's interested in that (I don't think there's any privacy concerns associated with my response).
UPDATE 2: I'm really starting to wonder if V&G read either my article or Rose's article when they wrote theirs. Perhaps they did but with a predetermined view of what it was I was arguing. Please - don't take what they say about the Rose (2010) article to heart, especially. It's a great piece and it seems like they only read through the first of several models. Rose (2010) addresses the points they claim he doesn't address.
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4 months ago
Dan
ReplyDeleteI never see either the pro or con discussing the debt income ratio.
If private debt is the cause of the crisis, falling wages can only make a bad situation worse, or am I missing something.
IOW, in a private debted caused crisis, shouldn't the fed act to raise prices and wages, not lower them, at least when doing such improves debt/income ratios?
It seems to me that a job and inflation is better than no job at all.
I don't know Daniel's problem, but he keeps adding to my reading lists with all these published articles. It must be a personal vendetta.
ReplyDeleteBtw, thanks for the reference in your thank you note.
. . . . . . . . 9/11 WAS AN INSIDE JOB !!! ▌
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