Freshwater or Saltwater?

by Elaine Schwartz    •    Dec 16, 2009    •    656 Views

Smith or Keynes? Free market or government fine-tuning?
If you are the latter, you can say you are a saltwater economist. A recent article from Paul Krugman (NY TIMES MAGAZINE; 9/06/09) characterizes the economists who reside along either coast as saltwater. By contrast, those near the Great Lakes (University of Chicago), near freshwater, can be called the classical/Adam Smith crowd.

However, not everyone agrees:

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