Niall Ferguson vs. Paul Krugman, Round 347


He can’t claim that the ideas of Keynes are eternal verities like the ideas of Newton; they’re not. Nothing in economics is that scientific. I’ve got history on my side, and he’s got an economic model from 1936. And we’ll see who was right.” —Scottish historian Niall Ferguson at last night’s NY Historical Society History Makers Gala, responding to remarks made by nemesis Paul Krugman on his LiveJournal, Conscience of a Liberal, in which Krugman declared victory in a skirmish between Keynesian economists such as himself and classical economists such as Ferguson.