The final session of the American Economics Association conference I attended was a very popular throwdown between Paul Krugman and UCSD's Valerie Ramey on the subject of fiscal stimulus.
It was, I thought, a frustrating affair that well summed up the dialogue of the deaf that proceeds in this debate.
DELONG: One thing I wanted to do with this session was to amuse myself and abuse my role as moderator by tormenting the panelists somewhat. I wanted to turn it into somewhat of a self-struggle session. That was why my fourth question asked how they had changed their minds on microeconomic issues over the past six years, and what they had changed their minds about. How did they think differently now than they did then? The only one who I heard give an answer to that was Paul Krugman....
KRUGMAN: Since I already criticized myself can I spend a couple of minutes criticizing other people?
DELONG: Two minutes. Only two minutes.
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