Germany's Steinbruck versus Nobel Prize winner Krugman.
Isaac Hayes - 27 March 2009The Nobel Prize winning economist Paul Krugman has blasted Germany's Peer Steinbrück for his resistance to economic stimulus spending.
finance minister has sent Krugman an invitation to come to Berlin to discuss their differences.
It’s not the first time the two men have corresponded , the communication has been one-sided and consisted mainly of Krugman making disparaging remarks about Steinbrück via his column and blog.
Krugman's most painful insult of all may have been his suggestion that the criticisms of "crass Keynesianism" offered by Steinbrück.
As Krugman himself has noted, strong social welfare programs, like those in Germany, mitigate the need for deficit spending in times of crisis.
German economists, informed by the legacy of their country's experience with hyperinflation , are also generally more concerned about the risk of inflation than their American counterparts.
if Krugman takes Steinbrück up on his invitation, he may want to prepare to receive an earful. Steinbrück shares Krugman's penchant for straight-talk and he certainly hasn't hesitated to assign blame for the economic crisis.
