Paul Krugman and Niall Ferguson have been nemeses for a long time. The latest blowup has come with Ferguson’s controversial Newsweek cover story, “Obama’s Gotta Go,” which asserted that the president has broken promises and failed to lead America to prosperity. Over the years, the two well-known professors have publically disagreed on how America needs to fix its financial health.
On Sunday, Krugman responded to Ferguson’s cover story with the following:
“We’re not talking about ideology or even economic analysis here — just a plain misrepresentation of the facts, with an august publication letting itself be used to misinform readers. The Times would require an abject correction if something like that slipped through. Will Newsweek?”
“You know you have hit the target when Paul Krugman takes time out from his hiking holiday to accuse you of ‘multiple errors and misrepresentations’ … but can only come up with one truly feeble objection.”
It doesn’t stop here. Krugman responded to Ferguson’s response:
“If professors with impressive-sounding credentials spout nonsense, it’s asking too much of a newspaper or magazine serving the broader public to make the judgment that they actually have no idea what they’re talking about.”
On FORA.tv, Krugman has offered his solution to fix America’s economy and it involves taking on more debt:
To Ferguson, increasing debt would be disastrous: