Will Keynesian economist Paul Krugman debate Austrian economist Robert Murphy for charity? Murphy challenged the Nobel-winning economist to a debate in which all proceeds will go to a feed hungry New Yorkers.
Krugman has declined to participate in the debate, but as he continues to deny fans of economics to see two dichotomies in economic thought, those intrigued by the debate continue to donate money to help out Food Bank for New York City.
At the time of this writing, the debate, which was first organized more than two years ago, has received more than $105,000 in donations for the charity. Many are questioning as to why Krugman would not take part in a debate that would benefit an important charitable organization
If Krugman does not debate then the food bank will not receive the money. Donors only get their credit cards charged if Krugman actually debates the author of “The Politically Incorrect Guide to Capitalism” and “Human Action Study Guide.”
“Krugman would have to explain to his loyal readers why it wasn’t worth his time to debate for an hour on business cycle theory even though it would mean [thousands of dollars] of right-wing money would then be used to feed hungry New Yorkers,” said Murphy in a video.
Speaking on a local New York radio show last summer, Krugman explained that he wouldn’t be a participant in the debate, especially when, according to Krugman, the Austrian Theory has been incorrect throughout the entire economic collapse.
“This is not something to be settled by public circuses. I would say, by the way, that the Austrians have been spectacularly wrong through this crisis,” stated Krugman. “Why should I dignify that totally-wrong doctrine — that doctrine that’s gotten everything wrong — by giving them a platform?”
However, this may seem as a contradiction because he debated retired Texas Republican Congressman Ron Paul, an adherer to Austrian economics, on Bloomberg TV last year. The YouTube videos of that exchange have generated more than 150,000 views.
For more information, visit KrugmanDebate.com.