Voodoo Economics: Paul Krugman Rejected By His Peers

Forbes reports:

University of Chicago economist John Cochrane writes that Krugman’s economic view of the world is not taught in any major economics graduate schools, is not taken seriously at academic conferences and is not considered acceptable by any professional economics journals.

Monetary economist Scott Sumner points out that there is no empirical evidence to support Krugman’s views:

“… it would be useful to do a more systematic study of fiscal austerity, but the Keynesians don’t seem to know how to do so. All I see are cross sectional studies that mix together countries with an independent monetary policy, with those that lack an independent monetary policy (like the Eurozone members.) Mark Sadowski did a regression with only those countries having an independent monetary policy, and found the effect went away. No correlation between austerity and growth. This objection to Krugman’s graphs has been made over and over again, but he never responds.”

Paul Krugman function in life is to write articles for statists that haven't taken/grasped the basics of microeconomics.