Drudge Retort: The Other Side of the News
Tuesday, July 15, 2014

Not long, as these things go, before his departure was announced Krugman thoroughly was indicted and publicly eviscerated for intellectual dishonesty by Harvard's Niall Ferguson in a hard-hitting three-part series in the Huffington Post, beginning here, and with a coda in Project Syndicate, all summarized at Forbes.com.

Ferguson: Where I come from … we do not fear bullies. We despise them. And we do so because we understand that what motivates their bullying is a deep sense of insecurity. Unfortunately for Krugtron the Invincible, his ultimate nightmare has just become a reality. By applying the methods of the historian – by quoting and contextualizing his own published words – I believe I have now made him what he richly deserves to be: a figure of fun, whose predictions (and proscriptions) no one should ever again take seriously.

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Princeton, according to Bloomberg News, acknowledged Krugman's departure with an extraordinarily tepid comment by a spokesperson. "He's been a valued member of our faculty and we appreciate his 14 years at Princeton."

Shortly after Krugman's departure was announced no less than the revered Paul Volcker, himself a Princeton alum, made a comment -- subject unnamed -- sounding as if directed at Prof. Krugman. It sounded like "Don't let the saloon doors hit you on the way out. Bub."

Krugman consistently misrepresents his opponents' positions, constructs fictive straw men, addresses marginal figures, and ignores inconvenient truths....

Prof. Krugman was indicted and flogged publicly by Niall Ferguson. Krugman thereafter announced his departure from Princeton. On his way out Krugman, it appears, was reprimanded by Paul Volcker. Krugman has been a disgrace to Princeton. Is he leaving Princeton in quiet disgrace?

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Krugtron the Invincible, Part 1

As a Princeton professor and Nobel Prize winner, Krugman is indeed widely believed to be intellectually invincible. He himself acknowledges having made only two mistakes,

"Let those who are without error cast the first stone," Krugman wrote back in 2010. Unfortunately, this is not an injunction he himself has heeded. Repeatedly, over the last five years, he has heaped opprobrium on others.

To be precise, I would like to see him admit that he got the biggest call of the last several years dead wrong, again and again and again. Not only should he admit his mistake, but he should also apologize to the millions of people who have suffered as a result of it. Or does he believe that his numerous, widely read predictions of imminent currency break-up had no impact whatever on the expectations of European investors and consumers?

www.huffingtonpost.com

Krugtron the Invincible, Part 2
If Krugman was wrong about the origins of the crisis, and wrong about the fate of the euro - wrong, in short about the two biggest crises of our time - what exactly was he right about?
www.huffingtonpost.com

Krugtron the Invincible, Part 3
For too long, Paul Krugman has exploited his authority as an award-winning economist and his power as a New York Times columnist to heap opprobrium on anyone who ventures to disagree with him.

www.huffingtonpost.com

Krugman, wrong on Europe
Krugman, wrong on the euro
Krugman, wrong on Greece
Krugman, wrong on bond yields
Krugman, wrong on the subprime mortgage market

#1 | Posted by paneocon at 2014-07-15 03:04 PM | Reply | Flag:

Much Bigger Than The Shutdown: Niall Ferguson's Public Flogging Of Paul Krugman

Ferguson succeeds in methodically humiliating New York Times columnist, celebrity blogger, and Nobel economic prize laureate Paul Krugman, together with his "gaggle of bloggers who are to Krugman what Egyptian plovers are to crocodiles."

Ferguson calls Krugman and his acolytes out for many, meticulously documented, errors and omissions. And he does not just show Krugman up as wrong but as a blackguard surrounded by a bodyguard of hooligans, all guilty of bullying.

Krugman, the record shows, was an accessory to the crime of the century: the creation of the housing bubble that produced the financial collapse. Krugman, conveniently, has forgotten.

www.forbes.com

#2 | Posted by paneocon at 2014-07-15 03:08 PM | Reply | Flag:

This commentary does such a poor job of proving a premise that ends by asking, "Is he leaving Princeton in quiet disgrace?" It's like the author knew on some level he didn't have the facts on his side.

The reality is that Krugman is leaving Princeton to join CUNY as a professor of the Ph.D program in economics and serve as scholar at the Luxembourg Income Study Center:

www.bloomberg.com

CUNY has 13 Nobel prize winners among its faculty, including Krugman. So this is hardly a downward move.

#3 | Posted by rcade at 2014-07-15 03:38 PM | Reply | Flag: | Newsworthy 1

#3 | POSTED BY RCADE AT 2014-07-15 03:38 PM | REPLY | FLAG: didn't read Huffington piece.

It's long but it proves Krugman's hypocrisy on many issues.

#4 | Posted by paneocon at 2014-07-15 03:51 PM | Reply | Flag:

I'm not interested in what Niall Ferguson had to say about Krugman, given what he said about John Maynard Keynes:

www.theguardian.com

#5 | Posted by rcade at 2014-07-15 04:01 PM | Reply | Flag:

Krugman is a hack.

He contradicts himself constantly and peddles strawmen to a degree that would make Zed or Obama blush by comparison.

I read this article this morning and got a good chuckle out of it.

#6 | Posted by JeffJ at 2014-07-15 04:05 PM | Reply | Flag: | Funny: 1

"Ferguson's views, often criticised for placing too much of a positive spin on western empires and imperialism, have won high-profile support among some rightwing politicians, especially the British education secretary, Michael Gove."

from link @ #5

#7 | Posted by Corky at 2014-07-15 04:07 PM | Reply | Flag:

#5 | POSTED BY RCADE
#7 | POSTED BY CORKY

What you fail to grasp is that Niall Ferguson is a economic historian and not an economist.

#8 | Posted by paneocon at 2014-07-15 04:15 PM | Reply | Flag:

What you fail to grasp is that Niall Ferguson is a economic historian and not an economist.

I didn't call him one or the other, so your response is a non sequitur.

#9 | Posted by rcade at 2014-07-15 04:30 PM | Reply | Flag: | Funny: 1 | Newsworthy 1

"Krugman, wrong on Europe
Krugman, wrong on the euro
Krugman, wrong on Greece
Krugman, wrong on bond yields
Krugman, wrong on the subprime mortgage market"

Krugman, CORRECT on oligarchy

#10 | Posted by kenx at 2014-07-15 05:57 PM | Reply | Flag:

so your response is a non sequitur.
#9 | POSTED BY RCADE

Nice 64.00 dollar word but you judged him base on his comments as a historian.

Was John Maynard Keynes gay, yes
Was John Maynard Keynes childless, yes

Can you prove that this didn't effect his long-term economic theories? NO

#11 | Posted by paneocon at 2014-07-16 10:51 AM | Reply | Flag:

By the way CORKY you are now limited to 10 NEWSWORTHY's on RCADE per day

#12 | Posted by paneocon at 2014-07-16 10:52 AM | Reply | Flag:

#12...Paneocon

Pretty sure this is a bald faced lie from a poster who really likes to cuddle up with bald faced liars and laugh about his/her own lies.

Kinda like the kid who loves the smell of his own farts.

Be sure to pull the closet door closed behind you, Neo.

#13 | Posted by oldwhiskeysour at 2014-07-16 11:23 AM | Reply | Flag:

"Krugman consistently misrepresents his opponents' positions, constructs fictive straw men, addresses marginal figures, and ignores inconvenient truths...."

Then make him a [...] moderator!

#14 | Posted by Diablo at 2014-07-17 04:25 AM | Reply | Flag:

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