Daily Archives: February 21, 2016

Krugman and the Gang of 4 Need to Apologize for Smearing Gerald Friedman

William K. Black
February 21, 2016     Bloomington, MN

If you depend for your news on the New York Times you have been subjected to a drumbeat of article attacking Bernie Sanders – and the conclusion of everyone “serious” that his economics are daft.  In particular, you would “know” that four prior Chairs of the President’s Council of Economic Advisers (CEA) (the Gang of 4) have signed an open letter to Bernie that delivered a death blow to his proposals.  Further, you would know that anyone who dared to disagree with these four illustrious economists was so deranged that he or she was acting like a Republican in denial of global climate change.  The open letter set its sights on a far less famous economist, Gerald Friedman, of U. Mass at Amherst.  It unleashed a personalized dismissal of his competence and integrity.  Four of the Nation’s top economists against one non-famous economists – at a school that studies heterodox economics.  That sounds like a fight that the referee should stop in the first round before Friedman is pummeled to death.  But why did Paul Krugman need to “tag in” to try to save the Gang of 4 from being routed?

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Jamie Galbraith’s Letter to Former CEA Chairs

Jamie Galbraith has written an excellent letter to the four former Chairs of the Council of Economic Advisers under Clinton and Obama regarding their letter to Professor Gerald Friedman and Senator Bernie Sanders. The full text is below.

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