Mankiw demolishes Krugman. It’s worth remembering that Krugman won his Nobel for work he did before he became a pundit. He deserves the prize, but one of the unfortunate side effects is that the gratuitous nastiness and intellectual shoddiness one finds in his New York Times writings will become even more pronounced because his employers won’t have the courage to tell him that when it comes to his punditry, Krugman is being . . . well . . . a hack.