Monday, January 31, 2011

Debate an Austrian, Feed the Hungry?

It will be very interesting to see if Paul Krugman accepts Robert Murphy's challenge to debate him for 1 hour on the merits of Austrian vs Keynesian economics. If he accepts, funds ($60,000 and rising) pledged by the public will be donated to a food bank in NYC, if not the credit cards of the donors will not be charged. As of yet, he has not accepted this offer, which leads me to believe that he may not be as concerned about the poor and downtrodden as his rhetoric would lead us to believe. FYI, you can make the conditional pledge by going to:

Welcome to, your headquarters for the Murphy-Krugman Debate! Robert Murphy has a PhD in economics from New York University. He is a firm believer in the Austrian theory of the business cycle, which blames the boom-bust cycle on the Federal Reserve, not the free market. In contrast, Paul Krugman--Nobel laureate in economics, and writer for the New York Times—is a Keynesian economist who thinks the Fed and the government can jumpstart the economy out of recession by printing more money and increasing the deficit.

Murphy has challenged Krugman to a public debate on Austrian vs. Keynesian business cycle theory. He has set up a campaign, which currently has raised $60,000 in pledges. If Krugman actually debates Murphy, then the money goes to a food bank in New York City. If Krugman never debates, no one's credit card is ever charged; people are only going to be charged for their pledge, when Krugman actually debates.

Click on the links to learn more, or to make your pledge.

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