Econ nerds, eat your hearts out.
Paul Krugman and
Ron Paul just got into it on
Bloomberg TV over whose monetary policy views are more dated. Paul struck first, calling the idea that the
Federal Reserve could effectively determine what the proper interest rate should be "presumptuous." Then Krugman essentially accused him of living in a fantasy universe.
"You can't leave the government out of monetary policy," Krugman said during the not-quite-epic debate billed as "Paul vs. Paul." "If you think that you can avoid that you're living in the world that was 150 years ago." ...
