I have previously noted how far off Krugman's predictions have been about Germany and other countries. So is it surprising that German's haven't really taken his critiques seriously? From the New Republic:
And yet, it’s equally apparent that Germans aren’t cowed by his vitriol—nor are they much persuaded by what he has to say. Merkel is still enjoying record popularity and Steinbrueck recently received a birthday greeting from an ordinary German citizen thanking him for sticking up to the New York Times columnist. When Krugman suggested the international community impose “sanctions” against Germany for its monetary policies, a number of notable German economists publicly, and sternly, pushed back. When Krugman accused Wolfgang Schaueble, the country's current finance minister, of “just making stuff up” when discussing the Euro crisis, Schaueble told the press that he had “no use for” economists with Nobel prizes. And when Krugman received a major award from one of Germany’s most prestigious economic research centers in 2010, the organizers made sure to pair his remarks on the European crisis with a speech by Schaeuble that undermined everything he had to say. . . .
Labels: austerity, book4, keynesianism, paulkrugman