The gloves are definitely coming off. This piece by Chicago economist John Cochrane and another by Chicago’s Eugene Fama get under the skin of Brad DeLong and lead Paul Krugman to denounce Cochrane and Fama as barbarians.
Economics Cage Match: DeLong/Krugman vs. Cochrane/Fama
TAGS: economists, Paul Krugman
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Cage match! Cage match!
The Chicago “School” gets a well deserved Smack-Down.
Why haven’t these guys resigned in disgrace.
I really like the work of Fama and Cochrane, but they are dead wrong on this issue… Krugman just can’t believe that such smart people are not getting it!!
Real business cycle theory was innovative, but that was 30 years ago… move on guys!
Have Fama or Cochrane replied to the criticism? Is it on?
The debate between these guys has definitely been very interesting to watch. It’s also brought out all of their personalities. In my opinion, DeLong and Krugman are winning the debate, but I think they could do a lot better if they didn’t present themselves in such a snarky way.
DeLong and Krugman are definitely losing. When you have to resort to being nasty, you have no argument. Quite simple actually.
This isn’t a debate. It’s embarrassing. To be blunt, it’s like if people in my areas starting arguing about whether primes are infinite.
After the DeLong/Krugman were declared winners of the first round, Greg Mankiw, Cochrane/Fama’s agent, was overheard saying: “the ref misunderstood John and Eugene’s strategy! My count has them slightly ahead of Brad and Paul.”