>From: Doug Henwood <dhenwood at panix.com>
>Reply-To: lbo-talk at lbo-talk.org
>To: lbo-talk at lbo-talk.org
>Subject: RE: [lbo-talk] Krugman's great unraveling
>Date: Mon, 23 Aug 2004 13:55:43 -0400
>
>Joseph Wanzala quoted:
>
>>Then I get a chance to ask this: "Based on the advertisement in the papers
>>for your book, the paper you write for claims you have fluency in
>>economics. What are your credentials in economics?"
>>
>>At first, P.K. is a little taken aback by this question. He hesitates,
>>then blurts, "I've written a hundred papers on the subject. I have a
>>background and education." The audience laughs and claps hysterically.
>>P.K. does not claim to have a degree in economics. He does not claim any
>>formal training in the subject.
>>
>>Ten minutes later, he ends the session to start book signings. I don't buy
>>the book. He has not written 100 columns on economics, so I would like to
>>know: Are the 100 papers available to read?
>>
>>"The Great Unraveling" has a column or two about Japan. Between 1990 and
>>today, P.K. implies, Japan's economy never collapsed. He implies that the
>>80 percent decline in the Nikkei, Japan's stock market average, was just
>>normal business.
>
>Man, this is pretty stupid stuff. Krugman is partisan and orthodox, but
>he's a real economist, and does popular economics writing very well too.
>And he's right about Japan - there was no collapse there. Stagnation, yes,
>but no collapse. Who is this "Night Cabbie" character?
>
>Doug
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