Keynesian economics won

[dnautics]

seems like the professor is setting up a straw man and knocking it down.

[lzw]

Krugman, and his ilk, are incapable of being honest. If they were, they would have to admit that over and over again the policies they advocate result in disaster.

[drallison]

Economics is not a science. We do not have models of the real economy that are adequate for accurate quantitative prediction of behavior. Krugman is a careful thinker and observes that the qualitative behavior of the economy in this instance behaves as would be predicted under the Keynesian rubric.