Is right twice a day. Jeffrey Sachs, darling of the left, innovator of crazy theories & misguided foreign aid efforts, has called out Paul Krugman’s approach to economics:
“Paul has a powerful bully pulpit in his New York Times column, and he’s been on one theme for three years,” Sachs said. Krugman has “under-emphasized the risks of growing debt, he’s over-asserted what we really know about the effects of these policies and he has underestimated the long-term need for public-sector change and reform,” Sachs said.
While scores of learned economists have been saying this for years, it would be nice to see the two worst public intellectuals I know go at each other. If one comes out with their reputation scratched, the world will be better for it.
Alas, if we’ve learned anything the past few years, it’s that the Krug doesn’t like a good debate.