Krugman v Redwood – You decide

It was recently announced that Paul Krugman is to be awarded the Nobel Prize for Economics. It has long been known that John Redwood is an unreconstructed, unrepentant, unapologetic Thatcherite. Krugman has been very impressed by Gordon Brown’s response to the banking crisis. Redwood has not. The banking crisis is complicated. When faced with a complicated policy issue, there is a temptation to position oneself in relation to this issue in accord with how others that you respect and those that you do not have positioned themselves.