Krugman's back...and DeLong's got him!

At Reddit, two of the world's best known economists mix it up, which should put an end to the silly claim that people don't respond to incentives, as Krugman is clearly in full book promotion mode.

Also, it is pretty clear that having a Nobel Prize doesn't protect one from believing patently silly things (other examples can be provided upon request);

 ...hedge fund managers and high school teachers have roughly comparable education levels.

Perhaps Prof. Krugman would like to put some of his disposable income to a market test of that assertion?