Paul’s letter to the Austrians; or, Paul’s letter to the Keynesians

I’ve been meaning to blog about this Paul Krugman vs. Ron Paul debate for quite a while. First of all, while I side pretty much with Krugman, do think it’s kind of cool that Representative Paul was willing to debate him. Do you think we’ll ever see Romney debate Krugman?

A few points:

  1. For the most part, they talk past one another. It’s not really a back-and-forth except for a few snarky remarks, (e.g. Krugman’s Diocletian quip). They just say their ideas without responding to the other guy’s.
  2.  Krugman got Rep. Paul good on the question of what Milton Friedman said about the Fed.
  3. On the other hand, he kind of let Paul’s “competing currency” scheme go. There was a lot of currency competition among the thirteen colonies and in the early U.S.  And it didn’t last. Also, what was the Congressman talking about with “legalizing currency competition”? What about BerkShares?

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