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The problem with Krugman and the rest of the Saltwater guys is that they are taking primitive Walrasian garbage into a sound-proofed basement and beating it with a rubber hose until it starts producing reasonable results. Pseudoscience, in other words.

Which leaves them in the fundamentally untenable position of trying to argue that their models are science, but that taking the very same models and not torturing them until they confess is pseudoscience. Or the equally untenable position of acknowledging that the pure-strain Walrasian models are science, but their tortured wrecks are as well.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Jul 4th, 2013 at 03:45:31 PM EST
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