David Warsh on Paul Krugman

[Paul Krugman] joined The New York Times [in 2001] as one of its marquee op-ed columnists. ….

Krugman routinely establishes important truths – energy companies really did cheat in the California power auctions a few years ago; real business cycle theory really was a thirty year dead-end; conservative claims that that the 1977 Community Reinvestment Act led ineluctably to the crisis really are a Big Lie.  He has become as good a newspaper columnist as he was an economist – one of the best in the world. Just don’t count on him for the other side of the story.

David Warsh, “The Bubble, the Stampede, and the Aftermath“, Economic Principals, 13 September 2015.

I agree that Paul Krugman (born 1953) provides one-sided views that are routinely correct, and do not see this as a problem. Contrasting views are easy to find on the internet. Economists are frequently derided for prefacing opinions with the phrase “on one hand, and on the other hand”, so enjoy reading the books and columns of a one-handed economist

Journalist David Warsh (born 1944) specializes in economic and financial affairs. He wrote a column for The Boston Globe from 1978 until March 2002, when he moved the column from print media to his own website. He is  author of several books, including Economic Principals: Masters and Mavericks of Modern Economics (Free Press, 1993).

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3 Responses to “David Warsh on Paul Krugman”

  1. Doug Walker says:

    I’ll believe Krugman is a great economist when he drops his contemptuous and insulting attitude toward his peers and when Niall Ferguson, Tyler Cowen and others subjected to his bile say he he routinely establishes important truths.

    Until then, he remains merely another partisan rogue in the unending political war of words of our time.

    Best to all,

    Doug

  2. Susan St John says:

    I couldnt agree more. Thank goodness for his one-sided views. We get enough of the other side. I always post Krugman’s articles for my students to let them see that there are some courageous economists in the US

  3. Doug, Paul Krugman and Tyler Cowen often disagree, but I have never seen either of them hurl insulting remarks at the other. See, for example, this youtube video:

    https://www.youtube.com/watch?v=EUxRTqR-LUo

    As for conservative Harvard historian Niall Ferguson, Krugman behaves as a scholar and gentleman, ignoring Ferguson’s rants. Well, for the most part. See these articles from Huffington Post:

    http://www.huffingtonpost.com/news/paul-krugman-niall-ferguson/