[c2the3rd]

One thing to remember about Krugman is that his specialty in college was trade theory. That is what he studied as a graduate and what his thesis was about. He made landmark advances in that field, and I respect him for it. However, this also means he is not an authority on monetary or fiscal policy and his views on these things do not have the weight some think they do. He is widely published in mainstream news only because he is an talented writer.

[ende]

Yup. If anyone wants to read some high quality Krugman, check out his recent posts on TPP. I think he does a great disservice to his intellect by wading into political economy and his constant partisan mudslinging. I think it's the one thing standing in the way of him taking the baton from Milton Friedman.

[theophrastus]

However beware the anointed authority; Greenspan was certainly that, and he denied the recession was coming, was already underway, and to this day has only grudgingly admitted that it happened. Krugman, among others, saw the danger early and tried to warn us.