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A few weeks ago, a journalist devoted a substantial part of a profile of yours truly to my failure to pay due attention to the "Austrian theory" of the business cycle-a theory that I regard as being about as worthy of serious study as the phlogiston theory

"You can't cut debt by borrowing." How often have you read or heard this comment from "austerians" (a nice variant on "Austrians"), who complain about the huge fiscal deficits that have followed the financial crisis? The obvious response is: so what?

Libertarians frustrated by what they view as the lack of engagement by arch-Keynesian Paul Krugman with their arguments have come up with a clever ploy: they're promising to donate $100,000 to the Fresh Food Program of FoodBankNYC.org if Krugman will debate one of their stars.