Reinhart And Rogoff Write Huge, Brutal Letter To Paul Krugman Blasting Him For Being Uncivil

[kpete]

Carmen Reinhart And Ken Rogoff Write Huge, Brutal Letter To Paul Krugman Blasting Him For Being Uncivil

Econofeuds just got real.

Carmen Reinhart and Kenneth Rogoff — the two economists whose paper on the negative effects of high debt loads was exposed as flawed by a grad student — have written a long letter to Paul Krugman, blasting him for being uncivil and unprofessional in how he treats them in his writing.

The letter is quite long, not just going through Krugman's tone, but also in going through his past work and their past work to defend the work they continue to do.

LETTER & MORE:
Read more: http://www.businessinsider.com/reinhart-and-rogoff-vs-krugman-2013-5#ixzz2UQF6ZvyC




KRUGMAN's RESPONSE:
Reinhart And Rogoff Are Not Happy

I’m sorry, but the failure to clear up this misconception has done a great deal of harm — and this harm is not significantly mitigated by various remarks in passing to the effect that austerity might be overdone.

http://krugman.blogs.nytimes.com/2013/05/26/reinhart-and-rogoff-are-not-happy/


Brad DeLong makes Krugman's points with graphs HERE:
http://delong.typepad.com/sdj/2013/05/accurate-and-inaccurate-ways-of-portraying-the-debt-and-growth-association.html

[Warpy]

1. "Never mind our fudged data and outright LIES

that have been used to further brutalize an already brutalized working class, you were so uncivil to point them out!

If I were Krugman, I think I'd laugh and frame this particular letter as an illustration of utter chutzpah.

[AnotherMcIntosh]

2. Their feelings were hurt?

Good.

[Scuba]

3. "Exposing our stupidity/complicity in ruining the lives of millions was mean of you."

[LWolf]

4. They sound like DUers complaining about Medea Benjamin. nt

[rhett o rick]

7. Here, here. nm

[summerschild]

5. K&R

[truebluegreen]

6. Krgthulu!

Thanks, Professor!

[malaise]

8. Fugg 'em

They've done serious damage to thousands of people

[gulliver]

9. R&R need to throw austerity under the bus in no uncertain terms.

They have the spotlight. They need to fall on their swords for their mistake and take austerity politics with them. Anything short of that is disgraceful.

[byeya]

10. One thing Prof Krugman has always done and that's been polite esp. to fellow Profs. The R&R cabal

is simply an escrescence on the body of economics. They cheated, Dean Baker called on them to release their data as soon as their paper was published - they refused(wonder why?) - and the M$M ignored any ethical challenges to the R&R effort and instead pimped it at every opportunity. Baker was correct; Krugman answered later adding some historical facts; and R&R, caught, are going apeshit because they know harvard won't do anything to them and their paymasters want something to quote that will divert attention from the failure of these tenured profs.