President of Estonia calls out Paul Krugman

Paul Krugman used to be an eminent economist, a Nobel Prize winner and Princeton professor. But something happened to him, and his role as a New York Times columnist seems to have captured his soul.  He is in the thrall of Keynsianism, the faith that government spending will cure all ills, debt be damned. Accordingly, Krugman cannot abide a successful economic recovery driven by cutting government spending so the private sector can regain its footing, generate profits and jobs (the two are related).  So it rankled Krugman to see Toomas Hendrik Ilves, president of Estonia and a successful advocate of government austerity, accorded the role of exemplar of common sense economics. Thus, he posted this snarky blog denigrating Estonia's performance. Ilves responded on Twitter.  Joshua Keating of Foreign Policy noticed and reprinted the tweets: Let's write about something we know nothing about & be smug, overbearing & patronizing: after all, they're just...(Read Full Post)