"I'm Gonna Haul Out The Next Guy Who Calls Me 'Crude' And Punch Him
In The Kisser," reads the headline of Paul Krugman's latest
Times post. This, perhaps, deserves some explanation.
Krugman's been getting pretty worked up over deficit hawkishness. In post after post, he argues that without further
stimulus spending, the country's economy will fall apart. He's also become increasingly irritated with his pro-austerity opponents, whom he thinks are preaching a dangerous path. Last week, things
reached a pitch when he got into a scuffle with some Germans
suggesting that one candidate for head of the European Central Bank would ruin Europe by worrying about inflation when he instead of stagnation
On Friday, The Economist finally pushed him over the
edge. The Economist article
on the "austerity" debate argued that "both
sides ... oversimplify their cases." For example, "Mr Krugman's crude
Keynesianism underplays the link between firms' and households'
behaviour and their expectations of future tax and spending policy."
Which brings us back to Krugman's headline. He resents the "recurring theme" that Keynesians
"are ignorant primitives who don't know anything about modern macro."
The Wire can't speak for everyone, but we encourage The Economist to take the bait: we'd love to watch
Paul Krugman punch the entire publication, collectively, in the "kisser."
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