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Golden Straw Man
Posted By Don Boudreaux On March 29, 2007 @ 9:07 am In Economics,Myths and Fallacies | Comments Disabled
In response to this note  that Paul Krugman has in the current issue of The New York Review of Books, I sent this letter:
Discussing Milton Friedman’s monetary economics, Paul Krugman says that “he showed himself much less doctrinaire and much more realistic than many of his acolytes: many conservative economists are drawn to visions of a restored gold standard or a world currency, dismissing the problems such a system would create” (Letter, April 12).
Krugman utterly distorts the views of market-oriented economists. Only a tiny, insignificant fringe advocates a gold standard. Many more – influenced by the works of F.A. Hayek , Ben Klein , Gordon Tullock , Larry White , George Selgin , and Kevin Dowd  – support competition among money issuers. This proposal is as far from advocacy of a gold standard or a “world currency” as one can get.
Krugman’s creation and destruction of straw men is deplorable.
Donald J. Boudreaux
Article printed from Cafe Hayek: http://cafehayek.com
URL to article: http://cafehayek.com/2007/03/golden_straw_ma.html
URLs in this post:
 this note: http://www.nybooks.com/articles/20081
 F.A. Hayek: http://www.econlib.org/library/Enc/bios/Hayek.html
 Ben Klein: http://www.econ.ucla.edu/people/faculty/Klein.html
 Gordon Tullock: http://www.gordontullock.com/
 Larry White: http://www.umsl.edu/~whitelh/
 George Selgin: http://www.terry.uga.edu/~selgin/
 Kevin Dowd: http://www.nottingham.ac.uk/business/LIZKD.html
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