Krugman Schooled in Debate

by Noah Glyn

Paul Krugman debated Spanish economist Pedro Schwartz, who presented a forceful rejection of Krugman’s demand-side beliefs.

The money quote from Schwartz: “Often Nobel prize winners are tempted to pontificate on matters that are outside the specialty in which they have excelled. And they have this mantle of authority whereby whatever they say . . . is accepted with resignation from some and enthusiasm by others.”