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Oct 18, 2013

Niall shoots one over the bow towards Krugman

Niall Ferguson has a couple long posts where he takes apart Krugman. Basically he calls out Krugman for saying he has only been wrong two times. Niall proceeds to explain in great detail how Krugman said the break-up of the Euro was imminent but yet it has still not happened. Niall wonders why Krugman fails to acknowledge this since this is arguably the biggest issue in international economics in the past 5 years.

Niall then moves on to call out Krugman for not predicting the 2008 financial crisis while Niall gives proof that he/himself did. He then gives a couple examples of Krugman's smugness and impoliteness. He can't believe Krugman has the gall to claim to be right about the importance of stimulus spending when his other predictions did not pan out so why should people believe him?

Niall finishes up his piece by saying that Krugman's lack of civility hurts the economic discourse because people are afraid to oppose him. He published his piece to show how wrong Krugman has been so others can feel safe bring arguments that counter Krugman.

Krugman's response to all this is that he would never respond. I assume that is because he doesn't have any respect for Niall but he really doesn't explain. This is especially surprising since Krugman has gone out of his way previously to call out Niall. Very strange, maybe Niall is onto something?

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