UPDATE: Along with people like Brad DeLong and Krugman himself, Yves Smith is one of the economics experts whose analysis I trust most on those issues. Today, at her Naked Capitalism blog, Smith notes this exchange with Krugman and observes:
I was completely gobsmacked by Krugman’s evident lack of a moral compass (this is "ends justify the means" in fancy dress), and was glad to see Greenwald do the heavy lifting of taking his argument apart.
I tried very hard to avoid speculating on Krugman's motives in defending Gruber -- I have a lot of respect for Krugman's conduct as a commentator and analyst over the last decade -- but an "ends justify the means" mentality does seem to pervade his arguments in this particular case.
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