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Krugman is a very bright shill, flack, sellout, whore.
Economic model - Wikipedia, the free encyclopedia
one could poke holes to throw cows through any one of these....
Worse than that the Keynes/Hicks-Hanson model deals solely with the Income statement while the Austrian model deals solely with the Balance sheet. There is a very good reason why firms get judged on both of those financial statements.Whomsoever believes that there is one path, and only one direction into which we must guide our marco-economy to keep it vibrant and functional is missing the mark.
Contrary to what apparently many of you believe, neither Keynes nor Krugman takes that idealistic position.
As to whether Hazlitt / Sowell are taking such a foolish position, I cannot say.